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A farmer can plant two crops in a 450-acre plot of land. One acre of land can produce 2.7 bushels of crop A and 2.4 bushels of crop B. Crop A requires $30 for plowing, disking, and harvesting altogether per bushel, and crop B requires $40 for plowing, disk- ing, and harvesting per bushel (the cost includes labor for both crops). Now the same crops could be sold at $120 per bushel and $180 per bushel respectively. The family has 15,000 total hours available, and crop A requires 40 hours per acre, and crop B requires 60 hours per acre. The family can arrange 10,000 hours for $6.00 hour as additional labor. As for the availability of seeds, crop A could be planted for 300 acres, and crop B could be planted for 200 acres. If the farmer has $30,000 to invest in his crops, what is his maximum potential profit?
There are two firms (a,b) and two consumers (1,2). Consumer 1 is more attached to firm a and consumer 2 is more attached to firm b. The maximum price that any consumer is willing to pay is $12. However, if the price difference is greater than $d, the..
What would be the various consequences of this tax on both consumption as well as production?
Given you the opportunity to integrate past course work in exploring the major challenges and technological transformations associated with modern logistics. Based on this course and previous courses, speculate on what you anticipate to be the..
Which of the following factors makes the official unemployment rate an overstatement of the actual level of unemployment in the economy?
suppose your community has one dominant insurer that negotiates with a bunch of hospitals in your market where a bunch
Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket.
In the 1960s and 1970s, research funding by the U.S. government and some universities led to revolutionary advances in network computing. These advances in communication and network technology remained largely isolated to governmental and academic..
what is the difference between a movement along and shift of the demand curve? show the impact on the equilibrium price
What does this change show about how our understanding of the way the price system works to allocate resources has evolved? If "excess profits" are taxed away, where will oil companies get the money to fund new exploration and ..
Higher nominal interest rate, and profit from the interest-rate differential. Do you see any potential problems with this idea? Explain. What are the cons of the strategy?
Would interest exist in a pure exchange economy where no production occurred? Explain. Please provide a detailed answer.
What do you think it would be to work for Google? In what ways might Google’s HR function have an impact on you as an employee there in terms of making your work experience better?
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