Multiple Choice
George owns a dude ranch in Texas.He pays $32,000 per year in insurance,$408,000 in wages,and $23,000 in supplies.He forgoes $32,000 per year he could make as a police officer.His total revenue last year equaled $460,000.That means his economic _____ equaled _____.
A) profit;$3,000
B) losses;$3,000
C) losses;$35,000
D) profit;$35,000
Correct Answer:
Verified
Correct Answer:
Verified
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