lectur23-page4

lectur23-page4 - travel $ 20 total economic cost $128...

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A Small Budget Total revenue $150 Economic costs: labor 8 hrs. X $5.00 /hr. $ 40 operating costs 8 hrs. X $6.00/hr. $ 48 expected repairs $ 20
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Unformatted text preview: travel $ 20 total economic cost $128 Expected net revenue $ 22 Marginal cost < Marginal revenue ($4.27/ac.) ($5.00/ac.)...
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