homework #1

homework #1 - 5. $17 million 6. A. Net farm income is...

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Ms. Popp AGEC 1103 29 January 2007 AGEC Homework #1 1. A. Option 2 because it is the highest profit. B. 12 million 2. A. Macroeconomics C. Macroeconomics D. Microeconomics 3. Option A because it yields the most profit. Opportunity cost is $45/acre. Total economic cost is $105/acre. 4. The slope of the line is one half. This means that for every one student that enrolls in economic courses, there are two students in the overall enrollment.
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Unformatted text preview: 5. $17 million 6. A. Net farm income is $350,000. B. Equity equals $8,000,000. 7. See Sheet 8. See Sheet, The highest income was in 1998. 9. economics-a social science that studies how consumers, producers, and societies choose among the alternative uses of scarce resources in the process of producing, exchanging, and consuming goods and services. 10. See Sheet....
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This note was uploaded on 04/27/2008 for the course AGEC 1103 taught by Professor Popp during the Spring '08 term at Arkansas.

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homework #1 - 5. $17 million 6. A. Net farm income is...

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