The following is cost information for the Creamy Crisp Donut Company. - Entrepreneur’s potential earnings as a salaried worker = $38,000 - Annual lease on building = $20,000 - Annual revenue from operations = $280,000 - Payments to workers = $118,000 - Utilities (electricity, water, disposal) costs = $8,000 - Value of entrepreneur’s talent in the next best entrepreneurial activity = $80,000 - Entrepreneur’s forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp Donut Company **Multiple Choice:** - [ ] has lower explicit costs than implicit costs. - [ ] is earning a normal profit but not an economic profit. - [ ] is earning an economic profit. - [ ] is suffering an economic loss when implicit costs are considered.

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