A small farmer reports $200,000 in accounting profit from pl…

A small farmer reports $200,000 in accounting profit from planting corn this year. A managerial economics student scoffs and says, “Your economic profit is probably zero.” What does the (slightly rude) student mean by this? In your answer, explain what implicit costs the farmer’s $200,000 accounting profit likely fails to capture and explain why “economic profit = zero” is not an insult.