Suppose a Sole Proprietorship Is Earning Total Revenues of $100,000

Multiple Choice

Suppose a sole proprietorship is earning total revenues of $100,000 and is incurring explicit costs of $75,000.If the owner could work for another company for $30,000 a year,we would conclude that:

A) the firm is incurring an economic loss.
B) implicit costs are $25,000.
C) the total economic costs are $100,000.
D) the individual is earning an economic profit of $25,000.