EQ #2 EQ #2 AGEC 105 - Capps (4 pts) AGEC 105 - Capps (4 pts) September 12, 2011 September 12, 2011 1.Suppose that Trent Lewis, a rice farmer near Beaumont, Texas, garners $650,000 in gross farm income and incurs production expenses of $300,000. In addition, suppose that the CPI was 2.00. Further, suppose that Trent Lewis has assets totaling $17 million and liabilities totaling $9 million. (a)What is the real net farm income of Trent Lewis? (b)The equity for this rice farmer is $___________ million. (c)Another term for equity is _______________. (1 pt) (1 pt) (1/2 pt) (1/2 pt)
EQ #2 AGEC 105 - Capps (4 pts ) September 12, 2011
Feb 22, 2016
EQ #2 AGEC 105 - Capps (4 pts ) September 12, 2011. - PowerPoint PPT Presentation
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
EQ #2 EQ #2 AGEC 105 - Capps (4 pts) September 12, AGEC 105 - Capps (4 pts) September 12,
201120111. Suppose that Trent Lewis, a rice farmer near
Beaumont, Texas, garners $650,000 in gross farm income and incurs production expenses of $300,000. In addition, suppose that the CPI was 2.00. Further, suppose that Trent Lewis has assets totaling $17 million and liabilities totaling $9 million.
(a)What is the real net farm income of Trent Lewis?
(b)The equity for this rice farmer is $___________ million.
(c)Another term for equity is _______________.
2. The portion of food expenditures associated with the activities of firms beyond the farm gate is known as the _______________.
(1 pt)
(1 pt)
(1/2 pt)
(1/2 pt)
3. Consider the following chart.
Assuming total utility is defined as U =2*W*CC, (1/2 pt) (a) Which bundle has the highest level of total
utility?(1/2 pt) (b) Which bundle has the lowest level of total
utility?
Bundle Number of Wings (W)
Bottles of Coca-Cola (CC)
A 3 3B 6 4C 9 2D 12 1
Related Documents
