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Business, 19.04.2021 16:00 angelrenee2000

Suppose a farmer in Georgia begins to grow peaches. He uses​ $1,000,000 in savings to purchase​ land, he rents equipment for ​$ a​ year, and he pays workers ​$ in wages. In​ return, he produces baskets of peaches per​ year, which sell for ​$ each. Suppose the interest rate on savings is percent and that the farmer could otherwise have earned ​$ as a shoe salesman. What is the​ farmer's economic​ profit? The peach farmer earns economic profit of ​$ nothing. ​(Enter your response as an​ integer.)

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Suppose a farmer in Georgia begins to grow peaches. He uses​ $1,000,000 in savings to purchase​ land...

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