You are currently working as a macroeconomist for the Congressional...

You are currently working as a macroeconomist for the Congressional Budget Office in Washington DC making $137,000 per year. 

Your lifelong ambition, however, has been to open your own cupcake store.  You decide to quit your job as an economist to open your dream store in Georgetown, Washington DC.

You estimate that you will be able to sell 7,500 cupcakes per month at a price of $3.95 per cupcake and 8,200 lattes per month at a price of $3.65 per cup.

You will have to pay monthly rent of $6,500 for renting the retail space and will have other cash costs of $5,000 per month (for utilities, part-time help, taxes etc.).  The ingredients will cost you $2.15 per cupcake and $1.15 per latte.

Would an economist recommend that you start this business? Why or why not?