Scenario 13-6 Tony Is a Wheat Farmer, but He Also Spends Part

question 64

Multiple Choice

Scenario 13-6
Tony is a wheat farmer, but he also spends part of his day teaching guitar lessons. Due to the popularity of his local country western band, Farmer Tony has more students requesting lessons than he has time for if he is to also maintain his farming business. Farmer Tony charges $25 an hour for his guitar lessons. One spring day, he spends 10 hours in his fields planting $130 worth of seeds on his farm. He expects that the seeds he planted will yield $300 worth of wheat.
-Refer to Scenario 13-6.Tony's accountant would calculate the total cost of his farming to equal

• A) $25.
• B) $130.
• C) $300.
• D) $380.

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Definitions:

Appliances

Electrical or mechanical machines designed for a specific function, commonly found in homes or businesses, such as refrigerators, washing machines, or ovens.

Upper-upper Class

The segment of society that holds the highest level of wealth, influence, and prestige.

Patrician

Relates to a member of the nobility or aristocracy, often used historically to describe high-status individuals in Roman society.

Power Elite

A term referring to a small group of people in a society who hold a disproportionate amount of wealth, privilege, political power, or skill.