You turned down a job at ABC Corp last year that would have paid you $125,000 per year and started your own company. When you calculated your economic profit, it came out at $0. You expect the business will be exactly the same next year. ABC called and said you could still take the job. You should... A. Keep running your company as-is. B. Keep running your company but pay yourself less. C. Keep running your company but pay yourself more. D. Shut down your company and take the job at ABC.

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A:

Q: Information  about Competitive market

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Q: Economic profit

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Q: To compute Economic Profits, which costs are used? Illustrate

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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…