Question

Accounting profits equal total revenue minus: economic profits. total explicit costs. total implicit costs. total economic costs. The following is cost information for the Mid-Atlantic Bakery Company: Entrepreneur's potential earnings as a salaried worker = $75,000 Annual lease on building = $25,000 Annual revenue from operations = $425,000 Payments to workers = $130,000 Utilities (electricity, water, disposal) costs = $10,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $100,000 Entrepreneur's forgone interest on personal funds used to finance the business = $15,000 Refer to the data. Mid-Atlantic Bakery's accounting profit is: $94,000. $156,000. $286,000. $165,000. The following is cost information for the Mid-Atlantic Bakery Company: Entrepreneur's potential earnings as a salaried worker = $75,000 Annual lease on building = $25,000 Annual revenue from operations = $425,000 Payments to workers = $130,000 Utilities (electricity, water, disposal) costs = $10,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $100,000 Entrepreneur's forgone interest on personal funds used to finance the business = $15,000 Refer to the date. Mid-Atlantic Bakery's accounting profit is: $294,000 $150,000. $380,000. $260,000.