Kurtz not even close
"A logger sells a truckload of lumber for £100. His cost of production is 4/5 of the price.
What is his profit?"
What about all the taxes he would have to pay? The cost of production may be 4/5th of the price but the taxes would be another 1/3 on top of that.
Cost of production may be 80 but the taxes and fees would be another 30 so the net profit is a loss of 10. So the logger goes out of business.
