If a triangle has angles of 90 degrees and 37 degrees, what is the degree of the third angle?
53 degrees; all angles of triangles must add up to 180 degrees
Assume Guns take 2 units of capital and 2 unit of labor to create, and Butter takes 1 unit of capital and 1 unit of labor to create. An economy possesses 20 units of capital and 20 units of labor. So the economy can create 5 Guns and 10 Butter, 10 Guns and 0 Butter, or 0 Guns and 20 Butter. These points of production lie along what curve?
Production Possibilities Curve
In order to properly plan an agricultural operation, what are some important characteristics of the market?
Input price stability and product price stability. Without at least a reasonable guess of what it will cost to produce your crop and at what price and what quantitites you can expect to sell your crop for, your agricultural operation will be a gamble.