Question: Question 18 (4 marks) Assuming that the apple farmer could earn $2, 000 as an employee elsewhere, then the total economic profit/loss in Table 1.2

Question 18 (4 marks) Assuming that the apple farmer could earn $2, 000 as an employee elsewhere, then the total economic profit/loss in Table 1.2 is... Table 1.2 Assume an apple farmer incurs the following costs and revenues Fertilizer $200 Seed $75 Water 5250 Wages $750 Property taxes $600 Interest payments on borrowed funds $1,200 Sales of apples $4.000 a. $925 b. -$75 C. -$2, 000 d. -$1, 075

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