AP® Microeconomics

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Economic Profits: Calculation

APMICR-8KJLNE

Which of the following below would be subtracted from total revenue to calculate economic profits?

I. Property taxes
II. Electricity costs
III. Wages from job sacrificed to start new business
IV. Interest forgone when funds are used to buy equipment

A

I only

B

I and II

C

I, II, and III

D

I, II, and IV

E

I, II , III and IV