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QUESTION
George owns a gun range in Texas. He pays $32,000 per year in insurance, $408,000 in wages, $23,000 in supplies, and he foregoes $32,000 per year he...
George owns a gun range in Texas. He pays $32,000 per year in insurance, $408,000 in wages, $23,000 in supplies, and he foregoes $32,000 per year he could make as a police officer. His total revenue last year equaled $460,000. That means his economic ______ equaled ______.
