What is thomass accounting profit what is thomass economic, HR Management

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What is thomass accounting profit what is thomass economic

Thomas owns and operates an Electronics and Computer shop in Los Angeles. While Thomas has a Mechanical Engineering degree and could work for CISCO Systems Corp. earning $76,000 a year his true passion is managing his own shop. Below is a list of Reggie's expenses for 2014. Use the following information to answer the questions: (show your work)

Revenue in 2014	$95,000
Rent	$15,000
Equipment cost	$4,200
Supplies	$2,750

What is Thomas's Accounting Profit? What is Thomas's Economic Profit?

Given Thomas's economic profit why does he still decide to manage his own shop instead of working for CISCO?

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