Table 221 Suppose the Entrepreneur Could Earn $800 as an Employee Elsewhere

question 52

Multiple Choice

Table 22.1 $$\begin{array}{l}\text { Assume an apple farmer incurs the following costs and revenues }\\\begin{array} { |l | r |} \hline \text { Fertilizer } & \$ 200 \\\hline \text { Seeds } & \$ 75 \\\hline \text { Water } & \$ 250 \\\hline \text { Wages } & \$ 750 \\\hline \text { Property taxes } & \$ 600 \\\hline \text { Interest paynents on borrowed funds } & \$ 1,200 \\\hline \text { Bales of apples } & \$ 4,000 \\\hline\end{array}\end{array}$$ Suppose the entrepreneur could earn $800 as an employee elsewhere.This means the entrepreneur is earning

• A)Breakeven profits.
• B)Economic losses.
• C)Economic profits.
• D)Accounting losses.

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