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The sole proprietor of the Books and Children bookstore receives all accounting profits earned by her firm and a $ 2 8 , 0 0
The sole proprietor of the "Books and Children" bookstore receives all accounting profits earned by her firm and a $ayear salary she pays herself. She has a standing salary offer of $ a year if she agrees to work for a large corporation. If she had invested her capital outside her own company, she estimates that would have returned $ a year. Last year, her accounting profit was $a Calculate her implicit cost.b Calculate her economic profit.
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