Your aunt gives piano lessons for $25 per hour. She also can grow tomatoes, which she can arrange and sell at the local farmer's market. Oneday she spends 5 hours planting $50 worth of seeds in her garden. Once the seeds have grown into tomatoes, she can sell them for $150 at thefarmer's market. Which statement is true?O Opportunity cost of growing tomatoes is $50 and she can earn an economic profit of $25.O Opportunity cost of growing tomatoes is $125 and she can earn an economic profit of $100,Opportunity cost of growing tomatoes is $50 and she can earn an accounting profit of $25.O Opportunity cost of growing tomatoes is $125 and she can earn an accounting profit of $100,

Given: Piano lessons per hour=$25 Sale of tomatoes=$150

Your aunt gives piano lessons for $25 per hour. She also can grow tomatoes, which she can arrange and sell at the local farmer's market. One day she spends 5 hours planting $50 worth of seeds in her garden. Once the seeds have grown into tomatoes, she can sell them for $150 at the farmer's market. Which statement is true? Opportunity cost of growing tomatoes is $50 and she can earn an economic profit of $25. O Opportunity cost of growing tomatoes is $125 and she can earn an economic profit of $100, O Opportunity cost of growing tomatoes is $50 and she can earn an accounting profit of $25. O Opportunity cost of growing tomatoes is $125 and she can earn an accounting profit of $100,

Your aunt gives piano lessons for $25 per hour. She also can grow tomatoes, which she can arrange and sell at the local farmer's market. One day she spends 5 hours planting $50 worth of seeds in her garden. Once the seeds have grown into tomatoes, she can sell them for $150 at the farmer's market. Which statement is true? Opportunity cost of growing tomatoes is $50 and she can earn an economic profit of $25. O Opportunity cost of growing tomatoes is $125 and she can earn an economic profit of $100, O Opportunity cost of growing tomatoes is $50 and she can earn an accounting profit of $25. O Opportunity cost of growing tomatoes is $125 and she can earn an accounting profit of $100,

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 2PA

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