Menard quit his high school teaching job, which paid $60,000 per year, to start a business that prepares students for the SAT exam. His first year in business generated the following revenues and costs: 
a. What is Menard's economic cost of SAT preparation?
b. What is Menard's accounting profit?
c. What is Menard's economic profit?
Definitions:
Independent Variable
The variable that is manipulated or changed in an experiment to test its effects on the dependent variable.
Positive Correlation
A relationship between two variables where an increase in one variable is associated with an increase in the other variable.
Community Involvement
Participation in activities and events within a specific community aimed at its development and well-being.
Life Satisfaction
The degree to which an individual feels content and pleased with their life and personal circumstances.
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