A small coffee house has the following costs: building and pizza oven rentals 100,000 labor 120,000 owners salary given up 85,000 value of entrepreneurial talent 30,000 raw material 100,000 Bank loan...

A small coffee house has the following costs:

building and pizza oven rentals 100,000

labor 120,000
owners salary given up 85,000

value of entrepreneurial talent 30,000

raw material 100,000

Bank loan payment 15,000

interest given up by owner 5,000

revenue for the firm is expected to be 420,000 for the year.

a. Calculate the firms accounting profit and its economic profits

b. Should the firm continue business in the long term if revenue and costs continue at the same level? Why or why not?