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QUESTION
Assume that you expect a "normal profit" of $20,000 on $100,000 invested in your new business. explicit costs are $60,000 and your total revenue is $120,000, then your economic profit is $ ___________
Assume that you expect a "normal profit" of $20,000 on $100,000 invested in your new business. explicit costs are $60,000 and your total revenue is $120,000, then your economic profit is $ ______________ .
