Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. pat quit that job and started working as a personal trainer. pat makes $50,000 in total annual revenue. pat's only out-of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $3,000 per year for equipment. pat's accounting profit is and pat's economic profit is
a) $50,000; $15,000
b) $34,000; -$1,000
c) $34,000; $15,000
d) $15,000; -$1,000