The U.S. government bought 112,000 acres of land in southeastern Colorado in 1968 for $17,500,000. The cost

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The U.S. government bought 112,000 acres of land in southeastern Colorado in 1968 for $17,500,000. The cost of using this land today exclusively for the reintroduction of the black-tailed prairie dog

a. is zero, because they already own the land.
b. is zero, because the land represents a sunk cost.

c. is equal to the market value of the land.

d. is equal to the total dollar value the land would yield if used for farming and ranching.

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Managerial Economics

ISBN: 9781337106665

5th Edition

Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward

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Question Posted: Jul 08, 2020 02:36 AM

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The U.S. government bought 112,000 acres of land in southeastern Colorado in 1968 for $17,500,000. The cost

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Managerial Economics

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