Jane is a vegetable farmer, but she also spends part of her day teaching piano lessons....
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Jane is a vegetable farmer, but she also spends part of her day teaching piano lessons. Jane has more students requesting lessons than she has time for if she is to also maintain her farming business. Jane charges $30 an hour for her piano lessons. One spring day, she spends 12 hours in her fields planting $150 worth of seeds on her farm. She expects that the seeds she planted will yield $350 worth of vegetables. What is Jane's economic profit? Jane is a vegetable farmer, but she also spends part of her day teaching piano lessons. Jane has more students requesting lessons than she has time for if she is to also maintain her farming business. Jane charges $30 an hour for her piano lessons. One spring day, she spends 12 hours in her fields planting $150 worth of seeds on her farm. She expects that the seeds she planted will yield $350 worth of vegetables. What is Jane's economic profit?
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To calculate Janes economic profit we need to consider both her explicit costs outofpocket expenses ... View the full answer
Related Book For
Introduction To Materials Management
ISBN: 978-9386873248
8th edition
Authors: Arnold J. R. Tony, Gatewood Ann K., M. Clive Lloyd N. Chapman Stephen
Posted Date:
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