X G what is x What is X MyOdu X Question X Content x T Nate Sil X Untitled X E Home s X ucation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fwww.blackboard.odu.edu%252Fwebapps% art 1 Saved Help Save & Ex Harvey quit his job at State University, where he earned $50,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $7,000 a year. To start the business, he cashed in $80,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 12,000 units of software at $70 for each unit. Of the $70 per unit, $52 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The implicit costs of Harvey's firm in the first year were Multiple Choice $840,000