Answered: The explicit cost of the firm is $800,…

The explicit cost of the firm is $800, implicit cost is $550 and the total revenue is $3000 Calculate the economic profit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The explicit cost of the firm is $800, implicit cost is $550 and the total revenue is $3000

Calculate the economic profit

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