\textbf{Accounting profit = revenue minus explicit costs. Economic profit = revenue minus both explicit and implicit costs. Accounting profit is always greater than economic profit as there's always an opportunity cost. \textsuperscript{$}100,000 accounting profit minus the implicit cost of \textsuperscript{$}60,000 = $40,000 in economic profit.} 
\textbf{\hspace{0pt}If a business owner has a \textsuperscript{$}100,000 accounting profit and could have made exactly $60,000 in his next best business opportunity, he has earned} 

(a) \textbf{$160,000 in economic profits.} 
(b) \textbf{$100,000 in economic profits.} 
(c) \textbf{$40,000 in economic profits.} 
(d) \textbf{neither an economic profit or loss.} 
(e) \textbf{none of the above.} 