Answer each of the following questions and don't forget to indicate the sign (positive or negative). Suppose that a firm produces 100 units a year and sells them all for $500 each. The explicit costs of production are $16,000 and the implicit costs of production are $19,000. How much is the firm's accounting profit? A seller earns $500,000 in total revenue. Their implicit costs of production are $374,000 and their explicit costs of production are $167,000. How much accounting profit did they earn? Alex is the owner of a financial consulting company. Last year, their total revenue was $240,000, their rent was $49,000, their labor costs were $57,000, and their overhead expenses were $68,000. Alex could earn $74,000 per year working at another nearby financial consulting company. From this information, we know that their economic profit was: