If a Firm Generates $240,000 in Revenue,earns $120,000 in Economic

question 162

Multiple Choice

If a firm generates $240,000 in revenue,earns $120,000 in economic profit,and its explicit costs are $80,000,how much are its implicit costs?

• A) $160,000
• B) $80,000
• C) $40,000
• D) $60,000
• E) $120,000