In order to run the business Economan gave up a chance to earn $110,000 in a job at the local Space Agency.In addition, he estimates that instead of investing in his business he could have putmoney in the bank and earned $5,000 interest.

A) What is Economan's accounting profit?

B) What can you say about his profit in an economic perspective?(Meaning didhe make an economic profit? Please explain.)

C) Considering only the one year, was starting the business the best economic decision for Economan?(Please explain if he could have made more in an economic sense by using his time and resources in another way?)

Q6.Explain in your own words why the following LRAC curve could only have one producer in a market if market demand were less than 10,000 units. (Imagine if demand were 9,000 units. What would the cost be for a second firm trying to enter the market? Could it compete? What would its costs be in relation to the established firm?)What is the economic term for this type of market?