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Question: Suppose a firm is able to sell their product for a price of $2. You have the following information on the firm's output and cost. Output 300 Implicit Costs $90 Explicit Costs $300 Instructions: For both questions, enter amounts as a whole number. If the firm is earning a loss indicate with a negative sign (-).
Question 1: What is the firm's accounting profit? $
Question 2: What is the firm's economic profit? $
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