Are my answers correct? And also I need help on the question below:"Alternatively, the economic profit he would earn as an accountant would be $__________" thank you!

Raphael lives in Miami and runs a business that sells pianos. In an average year, he receives $709,000 from selling pianos. Of this sales revenue, he g and Study Tools must pay the manufacturer a wholesale cost of $409,000; he also pays wages and utility bills totaling $281,000. He owns his showroom; if he chooses to rent it out, he will receive $1,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Raphael does r Offers not operate this piano business, he can work as an accountant and receive an annual salary of $29,000 with no additional monetary costs. No other costs are incurred in running this piano business. Options e Success Tips Identify each of Raphael's costs in the following table as either an implicit cost or an explicit cost of selling pianos. Implicit Cost Explicit Cost Success Tips The wages and utility bills that Raphael pays A- The salary Raphael could earn if he worked as an accountant Feedback The rental income Raphael could receive if he chose to rent out his showroom The wholesale cost for the pianos that Raphael pays the manufacturer Complete the following table by determining Raphael's accounting and economic profit of his piano business. Profit (Dollars) Accounting Profit 19,000 Economic Profit 49,000 Alternatively, the economic profit he would earn as an accountant would be $ A+ If Raphael's goal is to maximize his economic profit, he _should _ stay in the piano business. O True or false: Raphael is not earning a normal profit because his profit is negative. True Activate Windows False Go to Settings to activate Windows