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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 $ Each year, they pay $ in rent for the store, $ in business taxes, and $ on products to sell. The owner estimates they could put the $ they have invested in the store into a friend's restaurant business instead and earn an annual profit on their funds. The owner also estimates that they and their family could earn a total annual wage of $ 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
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consider closing down this business because he is making a
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