Question 16 (1 point)
Suppose total revenue= $10,000, foregone rent= $2,000, forgone salary= $3,000,
wages to workers= $4,000, utilities payments= $1,000, raw materials= $500. Which
of the following are true? Select all that apply:
Economic profit> Accounting profit
Economic profit< Accounting profit
The firm should exit the industry.
The firm should stay in the industry.
Accounting profit>$0
Accounting profit<$0
Economic profit>$0
Economic profit<$0