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Gloria owns a small beauty shop, where she works full-time. Her total revenue last year was $200,000, and her rent was $5,000 per month. She
Gloria owns a small beauty shop, where she works full-time. Her total revenue last year was $200,000, and her rent was $5,000 per month. She pays her one employee $3,000 per month, and the cost of haircare products averages $1,000 per month. Gloria could earn $55,000 per year as an instructor in the nearby beauty school. Her economic profit last year was _____.
Group of answer choices
A. $66,000
B. $37,000
C. $18,000
D. $55,000
E. $92,000
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