Aaron gave up a job in a tire shop that paid $20,000 a year to start his own T-shirt business. The T-shirt company has the following revenues and costs: TR = $60,000 . cost of hiring employees = $40,000 . cost of materials = $8,000 . cost of rent and insurance = $6,000 . According to these data, Aaron's business made a(n)
a. economic profit of $6,000
b. normal profit of $6,000
c. economic loss of $6,000
d. economic loss of $14,000
e. normal profit of $14,000
D
Economics
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