Mike is a finance major at a local university, who works during the summer to help pay for his tuition.Last summer, he worked as a bartender and earned $3,000.00.This summer, he is working as a graphic designer and is earning $7,500.00.To do the graphic design job, Mike had to spend $1,200.00 on a new computer and other supplies.

a) What is Mike's accounting profit from the graphic design job?

b) If working as a bartender was Mike's next best alternative, how much economic profit will Mike earn from his graphic design job?

c) Suppose that Mike can get an internship at an investment bank that would pay him a stipend of $5,000.00. The internship also provides Mike with tangible work experience that will help him get a job after graduation.What is Mike's economic profit?Should Mike keep the graphic design job or take the internship?Explain your answer.