Joe should ideally be charging $4; $280 to see a profit.
What is profit?
In accounting, a profit is an income that is given to the owner throughout a successful market producing process (business). Profitability, which is the owner's primary interest in the income-formation process of market production, is measured by profit. There are various profit metrics that are frequently used. Income generation and distribution must always be balanced in order for income to be formed in market production. Within the review period, the earned income is consistently dispersed as economic value to the production's stakeholders. The portion of income formation that the owner is able to retain for themselves during the income distribution process is known as the profit. Profit is one of the main drivers of economic prosperity since it creates opportunity for growth in both income and production.
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