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Economics

Q. Zach withdrew $400,000 out of his personal savings account and used it to start his new cookie business. Bank account pays 3 percent interest per year. During first year of his business, Zach sold 6,000 boxes of cookies for $2.50 per box. Also during first year, cookie business made monetary outlays of $9,000. You may assume that re is no opportunity cost to Zach's time. What is economic profit and accounting profit?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9307635

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