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(Solved by Expert Tutors) Tony is a wheat farmer, but he also spends part of his day teaching


guitar lessons. Due to the popularity of hislocal country western band, Farmer Tony has more students requesting lessons than he has time for if he is toalso maintain his farming business. Farmer Tony charges $25 an hour for his guitar lessons. One spring day,he spends 10 hours in his fields planting $130 worth of seeds on his farm. He expects that the seeds he plantedwill yield $300 worth of wheat.What is the total opportunity cost of the day that Farmer Tony incurred for his spring day in the field planting wheat?

 


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Apr 19, 2020

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