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Suppose that 20 workers were required in 2010 to produce 20,000 bushels of wheat on a 1,000-acre farm. a. What is the average output per acre? bushels per acre. What is the average output per worker? bushels per worker. b. If in 2020 only 16 workers produce 22,000 bushels of wheat on that same 1,000-acre farm, what will be the average output per acre? bushels per acre. What will be the average output per worker? Instructions: Round your answer to 1 decimal place.bushels per worker. c. By what percentage does productivity (output per worker) increase over those 10 years? Instructions: Round your answer to 1 decimal place. percent. Over those 10 years, what is the average annual percentage increase in productivity? Instructions: Round your answer to 2 decimal places. percent per year.
Which of the following is the best example of a network good? People sometimes point to similar gas prices at competing gas stations as evidence of collusion when they could just be selling at market price. If this is not good evidence of collusion, ..
At the profit-maximizing level of output, a purely competitive firm will: produce a quantity of output at which marginal cost is greater than price. produce the quantity of output at which marginal cost is minimized.
A city is being built where factor substitution is not allowed, and there are three types of businesses that are interested in bidding for land: service firms (S), manufacturers (M) and farmers (F). There is a circumferential highway that is located ..
During an election campaign, the incumbent argues that he should be reelected because GDP grew by 12% during his term in office. You know that population grew by 4% over the period, and that the GDP deflator increased from 100 to 108 during the past ..
The BRICS (Brazil, Russia, India, China, and South Africa) nations are increasingly important in international business. Provide a comprehensive description of the economy of each of these nations and identify reasons why the BRICS countries are grow..
q. youve been on your lunch break for less than 45 minutes when your boss orders you to return to work immediately or
Illustrate what is the marginal cost of a string. Calculate marginal revenue and marginal cost for each quantity.
q1. jaes building a corporation which follows short-run cost functionq3 - 10q2 36q.a. illustrate what is the level of
Compare and contrast the three different perspectives on sustainability.(weak substainability, Strong sustainability, ecological sustainability). What is your perspective and how would you classify it given the three general views of sustainability w..
Between January and December 1994, U.S. unemployment fell from 6.7 percent to 5.4 percent of the labor force. The Federal Reserve, the nation's monetary-policymaking authority, took active measures beginning in February 1994 to raise short-term inter..
Consumers are not able to resell good 1. For p
Write a one page response to the following statement: "U.S. regulators should enforce antitrust laws against the Microsoft Corporation."
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