Walter builds birdhouses. he spends $5 on the materials for each birdhouse. he can build one in 30 minutes. he is semi-retired but earns $8 per hour at the local hardware store. he can sell a birdhouse for $20 each. refer to scenario 13-11. an economist would calculate the total profit for one birdhouse to be
a. $7.
b. $11.
c. $12.
d. $15.
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