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anthonydel117 anthonydel117
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5 years ago

Suppose that the Beltrand family owns a farm near San Angelo, Texas. Three options exist for how to best use the farm:



Option 1: Raise lambs and earn a profit of $425,000. Production expenses are $200,000.

Option 2: Raise cattle and earn a profit of $475,000. Production expenses are $400,000.

Option 3: Grow cotton and earn a profit of $600,000. Production expenses are $300,000.



Which option should the Beltrand family undertake and what is the opportunity cost in this decision?



• Option 1, $600,000

• Option 2, $425,000

• Option 3, $475,000

• None of these
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
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BakariBakari
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5 years ago
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anthonydel117 Author
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5 years ago
Thanks for your help!!
DAGINC
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Yesterday
Brilliant ツ
ethom947
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2 hours ago
Smart ... Thanks!
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