Business, 17.03.2020 00:55, melanie12566
Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or foregone entrepreneurial income to be $5,000 a year. To start the business, he cashed in $100,000 in 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.
Refer to the above information. The implicit costs of Harvey's firm in the first year were:.
a. $50,000
b. $60,000
c. $100,000
d. $150,000
Answers: 1
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Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneuri...
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