Business, 05.02.2021 22:00 louiecampos

A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital and $200,000 on materials. What was the firm's accounting profit? The firm's factory sits on load owned by the firm that could be rented out for $30,000 per year. What was the firm's economic profit last year? What is the firms accounting profit? What is the firms economic profit?

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A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital an...

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