Multiple Choice
Assume Brad worked as a contractor for a year and had revenues of $120,000 and explicit cost of $70,000.If he could have been paid $80,000 working for a computer company, his accounting profit as a contractor was ____ and his economic profit was ____.
A) $50,000; -$10,000
B) $10,000; $50,000
C) $40,000; $50,000
D) $50,000; $40,000
Correct Answer:
Verified
Correct Answer:
Verified
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