please assist me to answer the following questions:

1.The Mid-Nite A-GoGo, a local nightclub, earned $100,000 in accounting profit last year.This year the owner, who had invested $1 million in the club, decided to close the club.What can you say about economic profit (and the rate of return) in the nightclub business?

3.Explain why the manager of a profit-maximizing monopoly always produces and sells on the elastic portion of the demand curve.If costs are zero, what output will the manager produce? Explain.