Given the Information That Follows,how Much Are (A)accounting Profits and (B)economic

question 114

Essay

Given the information that follows,how much are (a)accounting profits and (b)economic profits? Sales,$750,000;explicit costs,$450,000;return you could have earned by investing your money elsewhere,$50,000;wages that you and your family members could have earned doing the same work for another firm,$70,000.

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Definitions:

Internet

A global network of computers that provides a vast range of communication and information access, serving as the backbone for online services and web-based interactions.

Cyber Crime

Criminal activities carried out by means of computers or the internet, targeting data, networks, or individuals online.

Social Security

A government program that provides monetary assistance to people with inadequate or no income, particularly the elderly, disabled, and survivors of deceased workers.

Hacking

Unauthorized access to or manipulation of computer systems, networks, or data, often conducted for personal gain or to cause disruption.