Suppose an assistant professor of economics is earning a salary of $75,000 per year. One day she

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Suppose an assistant professor of economics is earning a salary of $75,000 per year. One day she quits her job, sells $100,000 worth of bonds that had been earning 3 percent per year, and uses the funds to open a bookstore. At the end of the year, she shows an accounting profit of $80,000 on her income tax return. What is her economic profit?
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Microeconomics

ISBN: 9780135952955

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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