Multiple Choice
An economist left his $100,000-a-year teaching position to work full-time in his own consulting business. In the first year, he had total revenue of $200,000 and business expenses of $150,000. He made a(n) :
A) implicit profit.
B) economic loss.
C) economic profit.
D) accounting loss but not an economic loss.
E) zero economic profit.
Correct Answer:
Verified
Correct Answer:
Verified
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