Philip Owns and Operates a Gas Station

Multiple Choice

Philip owns and operates a gas station.Philip works 40 hours a week managing the station but doesn't draw a salary.He could earn $800 a week doing the same work for Terrance.The station owes the bank $100,000 and Philip has invested $100,000 of his own money.If Philip's accounting profits are $1,000 per week while the interest on his bank debt is $300 per week, the business's economic profits are

A) -$100 per week.
B) $200 per week.
C) $0 per week.
D) $700 per week.
E) $1,000 per week.