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MMLU / Opportunity costs or implicit costs of a "Mom & Pop"-owned business are:

Problem

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question

Opportunity costs or implicit costs of a "Mom & Pop"-owned business are:

choices

  1. equal to accounting costs.
  2. equal to accounting profits.
  3. equal to earnings or profits that could have occurred using resources elsewhere.
  4. equal to earnings or profits that occurred for Mom & Pop's business.

subject

high_school_microeconomics

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