Individual agricultural producers are described as "price takers" because:
Answer: as individuals, they have very little power to influence prices.
Sally made $12,479 profit on her operation last year. Her capital investment was $39,550. What was her rate of return to capital invested?
Sally made $12,479 profit on her operation last year. Her capital investment was $39,550. What was her rate of return to capital invested?
Answer: 31.55%
On a dark night a tornado blew down some trees onto John's fence. While John was still asleep, and before daylight, one of John's steers wandered out onto the road and got hit by Hosea's car. The steer was killed and the car was badly damaged. Which statement is correct?
On a dark night a tornado blew down some trees onto John's fence. While John was still asleep, and before daylight, one of John's steers wandered out onto the road and got hit by Hosea's car. The steer was killed and the car was badly damaged. Which statement is correct?
Answer: John is not liable for Hosea's car damage and Hosea is probably not liable for the steer
A 62 year old woman wants to pass along her farm and other assets to her children with a minimum amount of taxes. She should:
A 62 year old woman wants to pass along her farm and other assets to her children with a minimum amount of taxes. She should:
Answer: see someone specializing in estate planning.
Bob told the banker that his partner, Justin, had quit their partnership so he was going to make one half of the truck payment as he usually did, and let the banker collect the other half from Justin. The banker would most likely say,:
Bob told the banker that his partner, Justin, had quit their partnership so he was going to make one half of the truck payment as he usually did, and let the banker collect the other half from Justin. The banker would most likely say,:
Answer: As with any partnership you are individually and collectively responsible for the full amount."
The Net Worth Statement is the best measure of:
The Net Worth Statement is the best measure of:
Answer: financial progress over a period of years
A producer bought a new combine which was larger and much more expensive than his old one, so he said, "I need to rent more acreage so that my:
A producer bought a new combine which was larger and much more expensive than his old one, so he said, "I need to rent more acreage so that my:
Answer: average fixed cost per acre will decline."
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