how was the implicit cost calculated in this problem:

Jaynet spends $30,000 per year on painting supplies and storage space. She recently received two

job offers from a famous marketing firm- one offer was for $110,000 per year, and the other was

for $80,000. However, she turned both jobs down to continue a painting career. If Jaynet sells 25

paintings per year at a price of $8,000 each:

a.

What are her accounting profits?

b.

What are her economic profits?