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Why, according to an economist, should implicit cost (i.e., wages from job given up) be included in the total cost of your product to compute

Why, according to an economist, should implicit cost (i.e., wages from job given up) be included in the total cost of your product to compute economic profit?

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Because the economist considers... View the full answer

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First, we should realize that Economic profit (EP) is the... View the full answer

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