Annual deaths from medical issues related to tobacco use are approximately

Accounting profit is total revenue minus total cost, including both explicit and implicit costs

Indicate whether the statement is true or false

Suppose that a small business takes in monthly revenue of $200,000 . Labor, rental, energy, and other purchased input costs come to a total of $170,000 . The owner/entrepreneur's monthly opportunity cost of her time invested in the business is $5,000 (this is what she could earn working elsewhere), and the owner/entrepreneur could get a return of $5,000 each month if she sold her business and

invested the net proceeds in a financial asset such as a treasury bond. Which of the following correctly describes her monthly economic profit? a. $200,000 b. $190,000 c. $30,000 d. $20,000