You own a small grocery store and manage it yourself, putting in a 40 hours a week. You also own the building that houses the store. At the end of the year, your accountant tells you that you broke even, because you just covered your accounting cost. This implies that

You own a small grocery store and manage it yourself, putting in a 40 hours a week. You also own the building that houses the store. At the end of the year, your accountant tells you that you broke even, because you just covered your accounting cost. This implies that

You own a small grocery store and manage it yourself, putting in a 40 hours a week. You also own the building that houses the store. At the end of the year, your accountant tells you that you broke even, because you just covered your accounting cost. This implies that




A. Your normal profit was negative
B. Your implicit costs were zero
C. your economic profit was positive
D. Your economic profit was negative





Answer: D