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Business, 20.11.2020 14:00 macinnoodlezz

Ed is a freelance writer who could work for a newspaper for a salary of $25,000 a year but instead works for himself for $41,000 a year. His only business expenses are $1,000 for writing materials and $12,000 for rent. Ed's normal profit is $1,000. What is the total opportunity cost incurred by Ed in running his own business?

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