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19 Sep 2011, 04:55
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There is a lot of unnecessary fluff in the passage below, only because there were more questions (that I don't need help with). I'm including a link here if you want to see the whole thing- img821 [dot] imageshack [dot] us/img821/1488/img4155ac.jpg
Source: Prep Center Handout
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When a farmer cultivates his land with an investment of $X for machinery, fertilizer, and labor, his average yield per dollar of investment is 10 bushels of potatoes. The next year he doubles his investment of labor and capital on the same land and he finds that his yield per dollar of investment is 15 bushels of potatoes. The next year he doubles that investment and his yield per dollar of investment is 12 bushels per dollar of investment.
Which of the following could increase the farmer's profit?
I. Rise in selling price of farm product
II. Use of modern agricultural methods
III. Greater use of cheap unskilled labor
A. Only I
B. Only II
C. I and II
D. II and III
E. I, II, and III
Answer:
Please help. Thanks.
Source: Prep Center Handout
------
When a farmer cultivates his land with an investment of $X for machinery, fertilizer, and labor, his average yield per dollar of investment is 10 bushels of potatoes. The next year he doubles his investment of labor and capital on the same land and he finds that his yield per dollar of investment is 15 bushels of potatoes. The next year he doubles that investment and his yield per dollar of investment is 12 bushels per dollar of investment.
Which of the following could increase the farmer's profit?
I. Rise in selling price of farm product
II. Use of modern agricultural methods
III. Greater use of cheap unskilled labor
A. Only I
B. Only II
C. I and II
D. II and III
E. I, II, and III
Answer:
My teacher says that the answer is C
I get E.
I get E.
Please help. Thanks.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
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19 Sep 2011, 10:02
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Its (a) i.e only 1
because we don't know if the if the labor is unskilled or skilled as nothing is mentioned in the passage and we we also cannot also say that the production is due to good agricultural methods because it it good agricultural methods then it should uniformly increase but here first it is 15 and then 12 so i feel the answer is (a)
because we don't know if the if the labor is unskilled or skilled as nothing is mentioned in the passage and we we also cannot also say that the production is due to good agricultural methods because it it good agricultural methods then it should uniformly increase but here first it is 15 and then 12 so i feel the answer is (a)
19 Sep 2011, 17:30
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Bookmarks
That's the example of law of diminishing returns ( in economics) . 2 & 3 will not effect the profit.
Answer should be 1
Answer should be 1
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Critical Reasoning (CR) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
