You start your own business on 1/1/2019. During the year 2019, your sales revenues are $200,000. You pay your assistant $40,000 and pay $20,000 for materials and utilities. You work in your own business, but in your next best alternative you could earn an annual labor income of $90,000. [You do not own any capital equipment or other resources. -- do not worry about depreciation or any costs associated with capital in this question.] Your economic profit for 2019 is O $110,000 O $90,000 O $200,000 O $140,000 $50,000
