1. What will happen if farmers will be deprived of their rights and privilegesas tillers of the land? 2. Is it important that the farmers should have their lands to till on?
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1. What will happen if farmers will be deprived of their rights and privileges
as tillers of the land?
2. Is it important that the farmers should have their lands to till on?
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Solved in 2 steps
- A consultant works for 200 per hour. She likes to eat vegetables, but is not very good at growing them. Why does it make more economic sense for her to spend her time at the consulting job and shop for her vegetables?Question Discuss “Land” as a special input of production?5 2. The following shows different technologies for producing 100 metres of cloth. Technology Number of workers Coal required (tonnes) A 4 2 B 1 6 C 3 7 D 5 5 a) Which technologies would not be chosen by firms? Explain. b) Of the remaining technologies, what determines the technology a firm would choose?
- Also souse diagramsa. What is the effect on the equilibrium price and quantity traded in market of theintroduction of a new technology that reduces costs of production for all firms?b. What is the effect on the equilibrium price and quantity traded in a market of a changein tastes that reduces the demand for the product?c. What is the effect on the equilibrium price and quantity traded in a market of theimposition of a tax per unit sold on suppliers?d. What is the effect on the equilibrium price and quantity traded in a market of thepayment of a subsidy per unit sold paid to suppliers?3. What are DeBeers profits? Why are they able to sustain these in the long-run?
- What are the economic costs that society pays for a lifelong smoker? a The smoker spends tens of thousands of dollars on tobacco. b Stores lose money when tobacco is taxed at a high rate. c Taxes paid on tobacco help to fund schools. d Health-care costs for smokers are much higher.You have a field on which you can grow two types of crops, barley and wheat. The field has 30 acres and each acre can produce 2 wheat or 3 barley. Suppose you are producing 60 barley and it is economically efficient for you to do so. How much wheat are you producing? 5 wheat 10 wheat 15 wheat 20 wheatind the marginal revenue functi R(x)=8x-0.05x^(2)
