Suppose an attorney in private practice has total revenue of $400,000 and her total costs are $175,000 for the year. Further suppose the attorney left a position in another firm which paid $160,000 in order to start her own practice. What is the attorney's economic profit?

Suppose an attorney in private practice has total revenue of $400,000 and her total costs are $175,000 for the year. Further suppose the attorney left a position in another firm which paid $160,000 in order to start her own practice. What is the attorney's economic profit?

$240,000

$225,000

$335,000

$65,000

$400,000