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Table 221 Suppose the Entrepreneur Could Earn $1,000 as an Employee Elsewhere

Question 19

Multiple Choice

Table 22.1  Assume an apple farmer incurs the following costs and revenues  Fertilizer $200 Seeds $75 Water $250 Wages $750 Property taxes $600 Interest paynents on borrowed funds $1,200 Bales of apples $4,000\begin{array}{l}\text { Assume an apple farmer incurs the following costs and revenues }\\\begin{array} {| l | r |} \hline \text { Fertilizer } & \$ 200 \\\hline \text { Seeds } & \$ 75 \\\hline \text { Water } & \$ 250 \\\hline \text { Wages } & \$ 750 \\\hline \text { Property taxes } & \$ 600 \\\hline \text { Interest paynents on borrowed funds } & \$ 1,200 \\\hline \text { Bales of apples } & \$ 4,000 \\\hline\end{array}\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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