Answer:
B) Tyler would have to give up the chance to earn more than $7,000 if he were to accept this position. A normal profit refers to the profit that an entrepreneur can expect to earn in other business opportunities.
Step-by-step explanation:
Since in the question it is mentioned that Tyler is an entrepreneur and works as a consultant of economics. As taylor offered a position where he received $7,000 per month but he declines it as he knows that he can earn above $7,000 so he should give him a chance to earn above $7,000.
But in this case if he accept that he will get a lower of normal profit so he should look other business opportunities in order to earn more than $7,000
Therefore the correct option is b.