Economan has been infected by the free enterprise bug. he sets up a firm on extraterrestrial affairs. the rent of the building is $4,000, the cost of the two secretaries is $40,000, and the cost of electricity and gas comes to $5,000. there's a great demand for his information, and his total revenue amounts to $100,000. by working in the firm, though, economan forfeits the $50,000 he could earn by working for the friendly space agency and the $4,000 he could have earned as interest had he saved his funds instead of putting them in his business.

a) what is the profit o loss by an accountant's definitions?

b) what is profit or loss by an economist's definitions?