Suppose that a company incurred implicit expenses of $500,000 and explicit costs of $5 million in a details year. If the firm offered 100,000 devices of its output at $50 per unit, its accounting:
A. revenues were $100,000 and its financial profits were zero.
B. losses were $500,000 and its economic losses were zero.
C. profits were $500,000 and also its financial profits were $1 million.
D. revenues were zero and also its financial losses were $500,000.
Total revenue was 100,000 * $50 = $5,000,000 and explicit expenses were also $5,000,000. So the firm lost its implicit costs for an financial loss of $500,000.
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