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Exhibit 7-1 Sally Owns a Small Business That She

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Exhibit 7-1 Exhibit 7-1   Sally owns a small business that she operates in a small building she owns.Given the information in Exhibit 7-1, Sally's economic profit is A) $80, 000 B) $50, 000 C) $65, 000 D) $35, 000 E) $24, 000 Sally owns a small business that she operates in a small building she owns.Given the information in Exhibit 7-1, Sally's economic profit is

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Definitions:

Knowledge

Information, understanding, or skill that one gains through experience or education.

Premises

Statements or propositions from which another is inferred or follows as a conclusion.

Inferred

Deduced or concluded information from evidence and reasoning rather than from explicit statements.

Conclusion

The end or finish of an event, process, or text, typically the part where final judgments or statements are made.

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