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Matthew quit his job at State University where he earned $45,000 a year. To start a board game company, he cashed in his savings account
Matthew quit his job at State University where he earned $45,000 a year. To start a board game company, he cashed in his savings account that was earning $5,000 in interest annually. In the first year, the firm sold 10,000 units of his new board game at a price of $30 for each unit. The board game costs $10 each for production, packaging, marketing, employee wages and benefits, and rent on the production facility. The economic profits of Matthew's firm in the first year were:
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