In the year 2000 Josh Crook decided he wanted to start a side business and built a website to \"assist" students with their homework. In the beginning, his plan was to help students on Craigslist in the college setting. Students would buy monthly memberships to his site and he forecasted an opportunity to get rich! Josh left his job at the IT store where he was earning $70,000 per year as the manager. He invested $100,000 of his own money (previously earning 5% interest per year in Guaranteed Investment Certificates). In the first year of operation, Josh made $450,000 in revenue. He was very proud of himself. The rent on the tiny dark warehouse where he put his employees to work totaled $190,000, the "expert's\" wages that he hired to answer the student's questions were $175,000 and all other expenses (taxes, supplies, advertising, etc.), were $65,000. Josh feels his internet smarts and skills are worth $100,000. 'Remember to show your work in your answer. Round your answer to the nearest WHOLE dollar. Calculate what Josh's first year profit would be according to: 1) his accountant, Linda Ledger; 2) his economist wife, Sylvia Smith (she didn't want his last name); 3) Ethics aside, did Josh make the right decision in quitting his job to start this business, economically speaking? Use the data on the graph to answer the following questions: a. Explain how we know that this rm is not operating in a perfectly competitive industry. b. In the pursuit of maximum prots, this rm will produce _____ units of output and charge a price of $ _______ ._ c. This rm's short-run economic prot will be $______. Show your work below