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Suppose you own an acre of land. You could grow crops on that land. The cost of seeds is $100 . The crops you grow
Suppose you own an acre of land. You could grow crops on that land. The cost of seeds is$100. The crops you grow from those seeds will sell for$450.You could also rent the land to another farmer. The rent you could earn is$200. Calculate your economic profit from farming the land yourself.
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