If Explicit Costs Equal $157,000, Implicit Costs Equal $95,000, and Accounting

question 229

Multiple Choice

If explicit costs equal $157,000, 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)$180,000; -$72,000
• C)$68,000; $25,000
• D)$118,000; -$72,000
• E)There is not enough information given to answer this question.

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