Answer:
true
Explanation:
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Answer:
a. $10,000; -$20,000
Explanation:
Accounting profit is total revenue less total cost.
Economic profit is accounting profit less implicit cost or opportunity cost.
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
Total cost = $30,000 + $80,000 + $20,000 = $130,000
Accounting profit = $140,000 - $130,000 = $10,000
If Bessie didn't start her farm, she would be working as a teacher. thus, her opportunity cost is what she would have been earning as a teacher which is $30,000.
Her economic profit = $10,000 - $30,000 = $-20,000
I hope my answer helps you
b. Tell the difference between competition types
c. Stay aware of inflation rates
d. Keep track of earning and spending
Answer:
its is D
Explanation: