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Thomas owns and operates an Electronics and Computer shop in Los Angeles. While Thomas has a Mechanical Engineering degree and could work for CISCO Systems Corp. earning $76,000 a year his true passion is managing his own shop. Below is a list of Reggie's expenses for 2014. Use the following information to answer the questions: (show your work)
Revenue in 2014
What is Thomas's Accounting Profit? What is Thomas's Economic Profit?
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