Suppose Marv, the Owner-Manager of Marv's Hot Dogs, Earned $72,000

Suppose Marv, the owner-manager of Marv's Hot Dogs, earned $72,000 in revenue last year. Marv's explicit costs of operation totaled $36,000. Marv has a Bachelor of Science degree in mechanical engineering and could be earning $30,000 annually as mechanical engineer.

A) Marv's implicit cost of using owner-supplied resources is $36,000.
B) Marv's economic profit is $36,000.
C) Marv's implicit cost of using owner-supplied resources is $30,000.
D) Marv's economic profit is $6,000.
E) both c and d.