The Accompanying Table Outlines the Explicit and Implicit Costs Incurred

question 37

Essay

The accompanying table outlines the explicit and implicit costs incurred by a small graphic design company in France that takes in annual revenues equal to $250,000.

a.What would this company's accounting profits equal for a year?
b.What would this company's economic profits equal for a year?
c.What would we expect to happen in the long run for this market? Why?

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