A Small Business Owner Earns $50,000 in Revenue Annually

question 77

Multiple Choice

A small business owner earns $50,000 in revenue annually. The explicit annual costs equal $30,000. The owner could work for someone else and earn $25,000 annually. The owner's business profit is ________ and the economic profit is ________.

• A)$20,000, $20,000
• B)$20,000, -$5,000
• C)$25,000, -$5,000
• D)$25,000, $20,000