Ed Is a Freelance Writer Who Could Work for a Newspaper

Multiple Choice

Ed is a freelance writer who could work for a newspaper at $25,000 a year but instead works for himself for $41,000 a year. His only business expenses are $1,000 for writing materials and $12,000 for rent. Ed's normal profit is $1,000. Ed's economic profit from working as a freelance writer is

A) $1,000.
B) $2,000.
C) $15,000.
D) $25,000.