You are running a business producing faux leather wallets. Your current accounting costs are $2 million. Your current revenue is $2. 5 million. If you were to switch to making faux leather belts, you estimate that your accounting profit would be $1 million. What is your current economic profit, in millions?.

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02-12-2022
Business

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You are running a business producing faux leather wallets. Your current accounting costs are $2 million. Your current revenue is $2. 5 million. If you were to switch to making faux leather belts, you estimate that your accounting profit would be $1 million. What is your current economic profit, in millions?.

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