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Define the production factors with examples for Hajji Ali Farms in Bahrain
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- What is the scope of agricultural economistsSuppose there are two countries for analyses, the United States and Indonesia. Assume that 2000 man hours are available in the United States and 36000 in Indonesia. The following table provides information on how many man-hours are needed to produce one unit of the same goods. Indonesia United States Cloth 50 3 Machines 100 5 2.2 What is the autarky price of machines in Indonesia and United States?Explain the term resource in economics
- At Yennefer's current production level, a extra bunch of herbs adds 24 extra spells. Each bunch of herbs costs $61. What is Yennefer's Marginal Cost of an extra spell?What are the high costs; social and environmental in the production of two of the following products, one from each group cotton and chicken ?A clothing company can use one of the following four production processes to produce 5,000 garments per month. Which production process is the most productively efficient? One that involves 20 workers and 20 machines One that involves 30 workers and 50 machines One that involves 30 workers and 20 machines One that involves 20 workers and 50 machines
- city is trying to estimate the most money it should offer to contractors as an incentive for them to finish a disruptive road project early. The transportation project lengthens transport times by 10 hours per week for 40,000 workers. Assume that all workers are paid $10 per hour in a perfectly competitive labor market. What is the most that the city should pay to the contractors as an incentive for completing the project four weeks earlyFor this farmer to maximize.....please answerAssume a case where Angela works the land owned by Bruno. By referring to the diagram above, explain how does Angela rank the possible allocations marked as X, Y, Z and A? [Slope at Y is equal to Slope at A]
- Please answer each question with sufficient detail. Relevant detailed responses are highly rewarded. If you consult any sources, then you should provide both in-text citations and references at the end of each response. You need to make sure at least consult your textbook for your responses. 1. Explain how the international movement of products and of factor inputs promotes an equalization of the factor prices among nations.the production fuction shows the volume of output that can produced from given inputs true falseWhat is production efficiency and product mix efficiency? What is the main condition for each type of these efficiencies.