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ep Angus works as a dairy farmer and loves his work. However,because the dairy business...

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Economics

ep Angus works as a dairy farmer and loves his work. However,because the dairy business has not been doing well lately, Angus isconsidering changing careers. He could work as a technician at thelocal dairy plant and earn

$27,(000)/()

year. Angus decides to make a list of the costs of staying inbusiness as a farmer and asks you for help. Please classify each ofAngus's costs as explicit or implicit.

?

the wages he pays to his hired hand

?

the feed he buys for his cows

?

the time it takes him to milk all of his cows

?

the

$27,000

annual salary he would receive from working at the dairyplant

?

the gas he uses for his farm truck

?

the cost of veterinary care for his cows

image

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