Suppose that 10 workers were required in 2010 to produce 40,000 bushels of wheat on a 1,000acre

Question:

Suppose that 10 workers were required in 2010 to produce 40,000 bushels of wheat on a 1,000‐acre farm.

a. What is the average output per acre? Per worker?

b. If in 2020 only 8 workers produce 44,000 bushels of wheat on that same 1,000‐ acre farm, what will be the average output per acre? Per worker?

c. By how many percentage points does productivity (output per worker) increase over those ten years? Over those ten years, what is the average annual percentage increase in productivity?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Microeconomics Principles, Problems and Policies

ISBN: 978-1259450242

20th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn

See More Books

Question Posted: Apr 24, 2018 03:32 AM

See More Questions

Suppose that every $500 billion of dead capital reduces the average rate of growth in worldwide per capita real GDP by 0.1 percentage point. If there is $10 trillion in dead capital in the world, by...
Suppose that both wheat and corn have an income elasticity of .1. a. If the average income in the economy increases by 2 percent each year, by how many percentage points does the quantity demanded of...
The profits associated with producing Q for Nash Enterprises are ( = 20Q - Q2, and marginal benefits are MB = 20 - 2Q. Pollution damages (costs) associated with its production are D = 10Q; the...
Olmsted Co. has small computer chips assembled in Poland and transports the final assembled products to the parent, where they are sold by the parent in the U.S. The assembled products are invoiced...
An algorithm takes 0.5 ms for input size 100. How large a problem can be solved in 1 min if the running time is the following (assume low-order terms are negligible): a. linear b. O(N logN) c....
In Exercises use a(t) = -9.8 meters per second per second as the acceleration due to gravity. (Neglect air resistance.) With what initial velocity must an object be thrown upward (from a height of 2...
Prepare Sales Returns Book of Shiv Shankar from the following transactions 2008 Feb. 10 Rama Stores returned 1 doz. Osram lamps 25 W @ ` 50 per doz. Reasonbreakage due to bad packing 20 Sohan Singh &...
Research CaseGovernmental or Not-for-Profit Entity? In partnership with Jefferson County and the Mound City Visitors Bureau, Mound City recently established a Native American Heritage Center and...
Please work using excel spreadsheet, and providing functions for review. Please and thank you, can you provide this quickly, greatly appreciate it. **The problems have already been worked, just need...
1. Work up a buying plan to use when buying from Ghuman's. 2. How should Hughes distribute the allotted open-to-buy dollars among the available sizes, colors, and fabrics? Synopsis: A department...
In terms of when these fiscal shortfalls are likely to require significant changes to budgets or program rules, which of the following is likely to occur first? a. State pension funds b. Local...
A monopolistic competitors brand identity is protected by a a. Trademark. b. Patent. c. Copyright. d. Bond.
Thirty-four percent of voters think that Congress should help write standards for school food. You randomly select six voters and ask them whether Congress should help write standards for school...
A 447 gram cart (mA) slides along a very smooth track and collides with a stationary 475 gram cart (mB). A motion detector records the velocity of cart A, as shown in Figures 1 and 2. A force probe...
M8 Homework i Saved 1 Mayfair Company completed the following transactions and uses a perpetual inventory system. Help Save & Exit Submit Check my work 10 points eBook Print References June 4 Sold...
Free Response Table Problem x -6 -80 -4 -3 f(x) 1.948 1 0 -2 -2.005 -798 undefined -2 -1.995 0 1 1.995 2 2.005 6 80 802 4 3.333 3.001 undefined 2.998 2.5 2.048 23. The table above represents values...
5. [-/0 Points] DETAILS OSPRECALC1 2.2.106. Use algebra to find the point at which the line f(x) = -x 258 -X+ intersects the line h(x) = x+ 91 + 25 10 (x, y) = Additional Materiale MY N
What does the graph tells? from your own understanding. CoursHeroTranscribedText 136 DIVIDED ATTENTION COUNTED TIME BACKWARDS 134 1 2 3 130 136 UNDIVIDED ATTENTION COUNTED TIME BACKWARDS 134 5 132...
Determine whether each relation defines y as a function of x. (Solve for y first if necessary.) Give the domain. y = 4x + 2
For each equation, (a) Write it in slope-intercept form (b) Give the slope of the line (c) Give the y-intercept (d) Graph the line. 7x - 3y = 3
Refer to Figures 1a and 1b in the Appendix. Assume that Q1 is 300, Q2 is 200, Q3 is 100, P3 is 120, P 2 is 100, and P1 is 80. If the price level increases from P1 to P3 in graph 1b, in what direction...
Suppose that the price level is constant and that investment decreases sharply. How would you show this decrease in the aggregate expenditures model? What would be the outcome for real GDP? How would...
Suppose that the price level is constant and that investment decreases sharply. How would you show this decrease in the aggregate expenditures model? What would be the outcome for real GDP? How would...
When preparing government-wide financial statements, the modified accrual based governments funds are adjusted. Please show the adjustments (in journal entry form with debits and credits) that would...
I need help finding the callable price and call value
On 31 October 2022, the owner took goods for his son as a birthday gift. The cost price of the goods was R15 000

Suppose that 10 workers were required in 2010 to produce 40,000 bushels of wheat on a 1,000acre

Question:

Step by Step Answer:

Answers a Average output per acre will be 40 bushels per acre average output per worker will ...View the full answer

Microeconomics Principles, Problems and Policies

Students also viewed these Business questions