10. A farmer can make accounting profits of $80,000 per year planting corn, $60,000 per year planting...

Question:

10. A farmer can make accounting profits of $80,000 per year planting corn, $60,000 per year planting canola, or $40,000 per year planting sorghum. Assume only one crop will be planted. What is the opportunity cost of planting corn? What are economic profits of planting corn?

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