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- Discuss “Land” as a special input of production?E xplain in deatail.Blake&Sons run a business of manufacturing animal trackers in Lansing, Michigan. It employs a total of 60 workers for $30 per hour wage rate. Expenses incurred on materials including metal and wiring sum up to $2800. Miscellaneous costs like energy and infrastructure are half of material costs.In January, the firm produced 10,000 trackers, with each employee working for 10 hours. If each tracker is sold for $20, find the following:a) Labor productivity per hourb) Labor productivity per dollarc) Multifactor productivity (Output income)d) Multifactor productivity (Output units)H6. Your mother owns and runs an arts and craft store, and the business is doing well. She would have otherwise been employed as a high school geography teacher making $80,000 a year or as an interior decorator making $68,000 a year. She owns the building in which her shop is located, which she could have rented out for $24,000 a year. Her annual revenue from the shop is $430,000 and she employs four workers, each of whom earns $30,000 a year. On average, she spends $206,000 per year traveling, purchasing, and shipping unique merchandise for resale at her store. Based on this information, do you think you should encourage her to return to teaching? Explain your advice with the help of calculations on her opportunity costs, accounting profit, and economic profit.
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