Question: Dan, a milk farmer, earns $ 3 0 0 , 0 0 0 ? month in revenue. His monthly cost include: administrative cost: $ 4

Dan, a milk farmer, earns $300,000? month in revenue. His monthly cost include: administrative cost: $40,000, Feed: $60,000, Equipment and maintenance: $40,000, Labor: $70,000, Transportation: $10,000, Miscellaneous: $20,000, Foregone rent for the land used for eattle grazing $10,000, Cost of his son's time that helps on weekends: $2,000, owner's salary: $10,000. Dan's accounting and economic profit respectively are
a. $60,000 and $48,000.
b. $38,000 and $38,000.
c. $60,000 and $38,000.
d. $$0,000 and $38,000.
Dan, a milk farmer, earns $ 3 0 0 , 0 0 0 ? month

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