ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Your aunt gives piano lessons for $25 per hour. She also can grow tomatoes, which she can arrange and sell at the local farmer's market. One
day she spends 5 hours planting $50 worth of seeds in her garden. Once the seeds have grown into tomatoes, she can sell them for $150 at the
farmer's market. Which statement is true?
O Opportunity cost of growing tomatoes is $50 and she can earn an economic profit of $25.
O Opportunity cost of growing tomatoes is $125 and she can earn an economic profit of $100,
Opportunity cost of growing tomatoes is $50 and she can earn an accounting profit of $25.
O Opportunity cost of growing tomatoes is $125 and she can earn an accounting profit of $100,
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Transcribed Image Text:Your aunt gives piano lessons for $25 per hour. She also can grow tomatoes, which she can arrange and sell at the local farmer's market. One day she spends 5 hours planting $50 worth of seeds in her garden. Once the seeds have grown into tomatoes, she can sell them for $150 at the farmer's market. Which statement is true? O Opportunity cost of growing tomatoes is $50 and she can earn an economic profit of $25. O Opportunity cost of growing tomatoes is $125 and she can earn an economic profit of $100, Opportunity cost of growing tomatoes is $50 and she can earn an accounting profit of $25. O Opportunity cost of growing tomatoes is $125 and she can earn an accounting profit of $100,
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