Question 15 Assuming that the apple farmer could earn $1,000 as an employee elsewhere, then the total economic profit in Table 15.1 is... Table 15.1 Assume an apple farmer incurs the following costs and revenues Fertilizer Seeds Water Wages Property taxes Interest payments on borrowed funds Sales of apples a) $925 b) -$75 c) -$1,000 d) $0 $200 $75 $250 $750 $600 $1,200 $4,000

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Question 15
Assuming that the apple farmer could earn $1,000 as an employee elsewhere, then the total
economic profit in Table 15.1 is...
Table 15.1
Fertilizer
Seeds
Water
Assume an apple farmer incurs the following costs and revenues
Wages
Property taxes
Interest payments on borrowed funds
Sales of apples
a) $925
b) -$75
c) -$1,000
d) $0
$200
$75
$250
$750
$600
$1,200
$4,000
Transcribed Image Text:Question 15 Assuming that the apple farmer could earn $1,000 as an employee elsewhere, then the total economic profit in Table 15.1 is... Table 15.1 Fertilizer Seeds Water Assume an apple farmer incurs the following costs and revenues Wages Property taxes Interest payments on borrowed funds Sales of apples a) $925 b) -$75 c) -$1,000 d) $0 $200 $75 $250 $750 $600 $1,200 $4,000
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