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Solve in details 1. The retail price of the food product is $5.00/lb. and the price of the major agricultural In 6! required for that

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Solve in details

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1. The retail price of the food product is $5.00/lb. and the price of the major agricultural In 6! required for that retail food product is $2.00/lb. at the farm level. If 2 pounds of the farm product is required to produce each pound of retail product, what is the percent farmer's share of retail expenditures on this product

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