Jane grows apples on land she inherited from her grandmother. she incurs explicit costs of $200 for the trees and $60 for fertilizers. in addition, suppose her land is otherwise worth $9,000 and her labor is worth

$20,000 (this is the amount she could earn managing someoneelse's land instead of her own). the market price of apples is $36 per box. if at this price jane produces 1,500 boxes of apple then her economic profit is

Economic profit= $24,740

Explanation:

Giving the following information:

Jane grows apples on land she inherited from her grandmother. She incurs explicit costs of $200 for the trees and $60 for fertilizers.  The market price of apples is $36 per box. At this price, Jane produces 1,500 boxes of apple.

Suppose her land is worth $9,000 and her labor is worth

$20,000.

Sales= 54,000

Fixed costs= 260

Opportunity cost= 29,000

Economic profit= $24,740

answer; organizational;