Suppose the Entrepreneur Could Earn $1,000 as an Employee Elsewhere

question 62

Multiple Choice

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

• A) -$925.
• B) -$75.
• C) -$1,000.
• D) $0.

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