As noted in Chapter 9, economists look at costs (and thus profits) more broadly than accountants, factoring in non-monetary opportunity costs, to consider the true/comprehensive costs. For this exercise, you'll think of a situation -- activity, pursuit, investment, job, side hustle, etc.; real or hypothetical -- where the "accounting profit" may look promising, but perhaps the true "economic profit" may turn out to be negative after all implicit costs are factored in. For your initial post, you should:

• Describe an activity, pursuit, job, etc. (see my example and other ideas below)
• What are the monetary or other benefits? This needn't be precise . . . and can be totally made up (but keep it plausible). If you want, you can describe a non-monetary activity and assign a utility value to it (e.g., I estimate my utility gain from this effort to be worth $500).
• What are the explicit costs? If applicable, some scenarios may not have/need them; like my example.
• What are the implicit costs(i.e., the opportunity costs)? Unlike the book's focus on resources you own, these implicit costs can be the value of your time (either work or leisure), mental health/emotions, relationship damage, etc. You're essentially trying to identify and put a value on the (non-monetary) downsides.
• After considering all potential benefits and costs, should/did you pursue the option? (Though I suggest negative economic profit in my intro above, you may ultimately decide it's worth it. The important point is to consider/explain all costs, including implicit ones.)