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Here are some questions. Please answer with explanation. 1. What should be included in economic cost?...

Here are some questions. Please answer with explanation.

1. What should be included in economic cost? (Please provide examples)

2. Should economic depreciation be included in calculating economic cost?

3. Should accounting depreciation be included in calculating economic cost?

4. What should be included in accounting cost? (Please provide examples)

5. Should economic depreciation and accounting depreciation both be included in calculating accounting cost?

Thank you.

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