2.If accounting profit is $400,000 greater than economic profit what do implicit costs equal?
3. If economic profit equals accounting profit, what do implicit costs equal?© BrainMass Inc. brainmass.com April 3, 2020, 4:07 pm ad1c9bdddf
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1. The government says that firm X must pay $1000 in taxes simply because it is in the business of producing a good. What cost curves if any does this tax affect and does the MC change if TC changes.
A tax levied ...
The solution assesses cost curves.