According to the Information Provided, at the End of the First

question 79

Multiple Choice

According to the information provided, at the end of the first year of operating her new business, Lee's accountant reported an accounting profit of $70 000.What was Lee's economic profit?

• A)-$130 000 profit
• B)$20 000 profit
• C)$35 000 profit
• D)$55 000 profit

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Definitions:

Increase

A rise in the quantity, size, or extent of something.

Percent

A unit of proportion or ratio expressed as a fraction of 100, often used to quantify relative change or differences.

Inequality

The unequal distribution of resources, opportunities, and rights among people in a society, often leading to social and economic disparities.

Rich

Having a great deal of money, resources, or assets; wealth.