The Sweet Success Bakery sells 800 cakes at a price of $20 per cake. Its total economic costs for producing 800 cakes are $4,800. The Sweet Success Bakery's economic profits are

A) $4,800.
B) $11,200.
C) $16,000.
D) indeterminate from this information.

Economic Profits

Profits exceeding the opportunity costs of all resources employed, reflecting a return beyond the normal profit level.

Economic Costs

The total value of all the resources used in the production of goods or services, including both explicit and implicit costs.