Question 13(1 point)

Bessie wants to calculate the accounting and economic profits on her cattle farm in Nebraska. She pays $30,000 per year for the cost of raising cattle, $80,000 in wages, and $20,000 in insurance. she forgoes $30,000 per year that she could make as a teacher. If her total revenue equals $140,000, that means her accounting profit is ________ and her economic profit is ________.

Question 13 options:

a)

$10,000; -$20,000

b)

$30,000; -$30,000

c)

-$10,000; -$10,000

d)

$60,000; $30,000