Pat Used to Work as an Aerobics Instructor at the Local

Multiple Choice

Pat used to work as an aerobics instructor at the local gym earning $35,000 a year.Pat quit that job and started working as a personal trainer.Pat makes $50,000 in total annual revenue.Pat's only out-of-pocket costs are $12,000 per year for rent and utilities,$1,000 per year for advertising and $3,000 per year for equipment.
Refer to the information given above.Pat's accounting profit is _______,and Pat's economic profit is _______.

A) $50,000;$15,000
B) $34,000;-$1,000
C) $34,000;$15,000
D) -$1,000;-$1,000