Refer to Table 15-2. What is the amount of profit that the firm earns?

Sunk costs

A) are costs that firms sink into marketing. B) are important for optimal decision making. C) are costs associated with repairing something you already own. D) are costs that have already been paid and cannot be recaptured in any significant way.

When a farmer uses someone else's land in exchange for a percentage of the crop, this is called

a. rental contract b. labor contract c. sharecropping d. tenancy e. none of the above