Bessie wants to calculate the accounting and economic profits on her cattle farm in Nebraska.She pays $30,000 per year for the cost of raising cattle, $80,000 in wages, and $20,000 in insurance.she forgoes $30,000 per year that she could make as a teacher.If her total revenue equals
$140,000, that means her accounting profit is ________ and her economic profit is _.
A.$10,000; -$20,000
B.$30,000; -$30,000
C.-$10,000; -$10,000
D.$60,000; $30,000

Question

Quizplus · Accepted Answer

The Answer of Bessie wants to calculate the accounting and economic profits on her cattle farm in Nebraska.She pays $30,000 per year for the cost of raising cattle, $80,000 in wages, and $20,000 in insurance.she forgoes $30,000 per year that she could make as a teacher.If her total revenue equals
$140,000, that means her accounting profit is ________ and her economic profit is _.
A.$10,000; -$20,000
B.$30,000; -$30,000
C.-$10,000; -$10,000
D.$60,000; $30,000

Bessie Wants to Calculate the Accounting and Economic Profits on Her