Question: 1. Calculate Kendrick's explicit costs. Show your work. 560.000 2. Calculate Kendrick's implicit costs. Show your work. 140.000 3. What is Kendrick's accounting profit? Show

1. Calculate Kendrick's explicit costs. Show your work. 560.000 2. Calculate Kendrick's implicit costs. Show your work. 140.000 3. What is Kendrick's accounting profit? Show your work. 90,000 4. What is Kendrick's economic profit? Show your work. 50 000

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