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The owner of Quick Buy a variety store has an annual revenue of $ 5 0 0 , 0 0 0 . Each year, they

The owner of Quick Buy a variety store has an annual revenue of $500,000. Each year, they pay $25,000 in rent for the store, $10,000 in business taxes, and $400,000 on products to sell. The owner estimates they could put the $100,000 they have invested in the store into a friend's restaurant business instead and earn an annual 20% profit on their funds. The owner also estimates that they and their family could earn a total annual wage of $90,000 if they worked somewhere other than the store. Include a minus sign (-) in front of any negative values entered as a solution below.
a. The total explicit costs of running the store are $
.
The total implicit costs of running the store are $
.
b. The accounting profit of the variety store is $
.
The economic profit of the variety store is $
.
c. The owner
(Click to select)
consider closing down this business because he is making a
(Click to select)
.

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