Bobby Flay could work for another firm making $10,000 per month, but decides to open his own gourmet cheese store and pay himself $2,000 per month. In his first month of operations, Bobby spends $6,000 on cheese, $1,000 on other items, and $2,500 on rent. He had a great opening month, and brought in revenues of $14,500. What are Bobby Flay's economic profits?
- $3,000
- $4,000
- -$ 5,000
- -$ 6,000
- - $ 7000