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A firm generates total revenue of $80,000. Labor costs $40,000, materials cost $20,000 and the owner could have earned $15,000 working for someone else. To an economist, profit equals___________; to an accountant, profit equals ______________.

a) $40,000; 5,000
b) $5,000; $40,000
c) $40,000; $15,000
d) $20,000; $5,000
e) $5,000; $20,000

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