A lawyer running his own business earns $18,000 in revenue monthly. He

A lawyer running his own business earns $18,000 in revenue monthly. He pays $8,000 as explicit costs including staff salary and utilities. He owns the office space so no rent is paid..

The lawyer could work for other legal firms and earn $10,000 per month. His business profit is ________ and his economic profit is ________. A) $10,000, $10,000
B) $28,000, $10,000
C) $10,000, $0
D) $8,000, $0

ANSWER

C