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Explicit costs of using market-supplied resources

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Reference no: EM132132866

During a year of operation, a firm collects $650000 in revenue and spends $250000 on labor expense, raw materials, rent, and utilities. The firm's owner has provided $350000 of her own money instead of investing the money and earning a 10% annual rate of return. Calculate the explicit costs of using market-supplied resources, Total economic cost, the firm's economic profit and accounting profit.

Reference no: EM132132866

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