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Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
Edition 7ISBN: 978-0073545875Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
Edition 7ISBN: 978-0073545875 Exercise 1
How would you estimate the opportunity cost for each of the following items
What do you think the actual opportunity cost would be
a.
Capital invested in land
b.
Your labor used in a farm business
c.
Your management used in a farm business
d.
One hour of tractor time
e.
The hour you wasted instead of studying for your next exam
f.
Your time earning a college degree
What do you think the actual opportunity cost would be
a.
Capital invested in land
b.
Your labor used in a farm business
c.
Your management used in a farm business
d.
One hour of tractor time
e.
The hour you wasted instead of studying for your next exam
f.
Your time earning a college degree
Explanation
Verified
Verified
Opportunity Cost:
The economic concept ...
Farm Management 7th Edition by Ronald Kay , William Edwards,Patricia Duffy
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