1. Jose quits his job as a dining crew earning 5,000.00 a month to start his food truck business. He pays 3,000.00 a moth on the loan to get the truck; pays a part-time employee 2,000.00 a month; and pays 2,500.00 a month for ingredients and supply. If his business earns 20,000.00 a month, what is his economic profit?

A. 5,000.00
B. 4,500.00
C. 12,500.00
D. 7,500.00
E. 17,500.00

2. Diminishing marginal returns for the first four units of a variable input is exhibited by the total product sequence:

A. 50, 110, 160, 200
B. 50, 100, 150, 200
C. 50, 50, 50, 50
D. 50, 100, 200, 300