Suppose the Entrepreneur Could Earn $800 as an Employee Elsewhere

question 127

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 $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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