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Harvey quit his job at State University, where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial Income to be $5,000
Harvey quit his job at State University, where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial Income to be $5,000 a year. To start the business, he cashed in $100,000 in 20 bonds that earned 10 percent Interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 11,000 units of software at $75 for each unit Of the $75 per unit, $55 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building The economic profits of Harvey's firm in the first year were e Book Multiple Choice O $220,000 $60,000 O $160,000. O $825.000
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