Tom was working as a delivery driver for the local pizza store. In 2014, he made approximately $20,000 for the entire year
delivering pizza and performing other jobs around the pizza store.
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In 2015, he decided to quit his pizza job to open his own bike rental store on the local bike trails. In 2015, Tom brought in a total
revenue of $50,000 while he had total explicit costs of $30,000. These costs included both fixed and variable costs such as wages
for his workers, leasing the building, buying bikes, and buying other resources needed for maintaining the bikes.
In 2015 Tom achieved