Problem:
Elroy rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow:
(1) Work full time at a local accounting firm making $3,600 per month.
(2) Take a summer class which will cost $800 and work half time making $1,100 per month.
(3) Take a class at a cost of $800 and not work at all during the summer. Elroy's incremental profit or loss if he chooses option 2 over option 1 would be?
Note: Please provide reasons to support your answer.