Answer:
B.$3,000.
Explanation:
Economic profits consider opportunity costs in calculating profits. Opportunity costs are explicit costs, while normal business expenses are implicit costs. The formula for determining economic profits is as follows.
Economic profits = Total revenue - ( Explicit costs + implicit costs)
In this case, explicit costs are not available
Economic profits =total sales - total costs
=$15,000 -$12,000
=$3,000
