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If Explicit Costs Equal $40,000,implicit Costs Equal $95,000,and Accounting Profit

Question 210

Multiple Choice

If explicit costs equal $40,000,implicit costs equal $95,000,and accounting profit equals $23,000,it follows that total revenue equals __________ and economic profit equals __________.


A) $75,000; $17,000
B) $63,000; -$72,000
C) $68,000; $25,000
D) $22,000; -$68,000
E) There is not enough information given to answer this question.

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