Q2: The table below represents the price of 762

Also notice that when the price declines to 762, while total costs stay the same, total revenues decline leading to decline in profits. Maximum profits (total normal profits) are now 0. This means the business can still continue to operate since the owner is able to pay off all explicit costs and also pay off implicit costs.  In other words, the owner is able to pay him or herself exactly the same amount they would be paid if they worked for someone else.