Skip to main content
K

Angus works as a dairy farmer and loves his work. however, because the dairy business has not been doing well lately, angus is considering

Angus works as a dairy farmer and loves his work. however, because the dairy business has not been doing well lately, angus is considering changing careers. he could work as a technician at the local dairy plant and earn $27,000/year. angus decides to make a list of the costs of staying in business as a farmer and asks you for . classify each of angus's costs as explicit or implicit. explicit costs the wages he pays to his hired hand the feed he buys for his cows the gas he uses for his farm truck the cost of veterinary implicit coststhe time it takes him to milk all of his cows the $27,000 annual sala he would receive from king at the dairy plant care for his cows
0
Save

2 Answers

A
Anya Stehr

Feb 20, 2025

A) the wage he pays to his hired hand. EXPLICIT COSTB) the feed he buys for his cows. EXPLICIT COSTC) the gas he uses for his farm truck. EXPLICIT COSTD) the cost of veterinary care for his cows. EXPLICIT COST E) the time it takes him to milk all of his cows. IMPLICIT COSTF) the $27,000 annual salary he would receive from working at the dairy plant. IMPLICIT COSTExplanation:Opportunity costs are the costs incurred (or benefits lost) from choosing one alternative activity or investment over another. Explicit costs = accounting costs, or costs that you must pay for in money.... Show More
0
A
Anya Stehr

Feb 20, 2025

Angus's costs as explicit or implicit are given below Explanation:solutionExplicit costExplicit cost is  required the outlay of the money and explicit cost involvement is following (a) wage they pay to his hired hand(b) feed they buys for his cows(c) gas they using for their farm truck(4) cost of veterinary careand Implicit cost is measure by value of benefit foregone and Implicit cost involvement is following(a) it take him to milk of all cow(b) $27000 per year salary is receive from work at dairy... Show More
0

Want to answer this question?

Join our community to share your knowledge!

Log in Sign up

Categories

Tags

Related Questions

7
Animal That Starts With I ?

Help my litlle sister as a project to do w. Animals. We need one that. Begins w. An I

6
Animals that are sacred to Hades?

It seems like a lot of the gods have animals that are sacred to them. I tried researching what would be sacred to Hades,...

1
anime about mechanics?

I’m looking for an anime that is about mechanics. I really like how in steampunk anime they work with and repair things...

3
Anime in Ireland, or Irish anime characters?

I have noticed a lot of French characters and locations in Anime. So that got me wondering if there was ever an Anime se...

3
Anime like attack on titan?

If you’re caught up with Season 4, i’m looking for anime with a show that has a complex plot and realistic scenarios. So...

10
anime with 2 male main characters?

Im looking for an anime where there are two male main characters. They can be best friends, brothers ect. doesnt matter...

10
Anne Bradstreet’s poems were greatly influenced by which aspects of her upbringing?

Anne Bradstreet's poems were greatly influenced by which aspects of her upbringing? 1. her education 11. her religion II...

6
Anne Hathaway’s somebody to love?

Okay so im looking for the sheet music and the karaoke/instrumental CD for Anne Hathaway’s cover of Somebody to Love..sh...

10
Anoble woman educated her children. why was a peasant woman less likely to teach her own children?

Anoble woman educated her children. why was a peasant woman less likely to teach her own children? a. peasant children h...

3
Another expression for “it is raining” is “Está nublado.”

Question 1 (Yes/No Worth 1 points) Another expression for "it is raining" is "Está nublado." YesNo Question 3 (Fill-In-T...