What is the firms accounting profit

Reference no: EM133663022

Assignment:

Suppose a firm is able to sell their product for a price of $4. You have the following information on the firm's output and cost. Output 600 Implicit Costs $50 Explicit Costs $100 Instructions: For both questions, enter amounts as a whole number. If the firm is earning a loss indicate with a negative sign (-).

Question 1: What is the firm's accounting profit?

Question 2: What is the firm's economic profit?

Reference no: EM133663022

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