(1 pt) A researcher for Agri-Giant Corporation wants to study how many pounds of tomatoes are typically picked by a manual labourer in an 8-hour day. The Corporation will consider using picking machines if the labourers cannot pick at least 240 pounds, on average. The researcher randomly sampled 100 farm labourers, found out how many pounds of tomatoes each picked...
Continue the example in which the farmer claims that organic tomatoes are higher in vitamin A than conventional tomatoes, and the hypotheses to be tested are Ho : y = 1500 versus HQ:p > 1500, where u is the average amount of viiamin A (in IU) in organically grown tomatoes. Let's assume that the distribution of vitamin A is symmetric,...
A researcher for Agri-Giant Corporation wants to study how many pounds of tomatoes are typically picked by a manual labourer in an 8-hour day. The Corporation will consider using picking machines if the labourers cannot pick at least 240 pounds, on average. The researcher randomly sampled 100 farm labourers, found out how many pounds of tomatoes each picked and calculated...
3 You are considering starting a greenhouse tomato production facility. You estimate your total variable costs will be $20,000 per greenhouse and your total fixed costs will be $15,000 per greenhouse. You anticipate receiving a price of $1.25/pound for your tomatoes. What is the minimum number of pounds of tomatoes you need to sell to be profitable in the long-run?...
Johnathon's household frequently purchases tomatoes from the local market. His demand for tomatoes is: Qd^J (p)=15-3p A) When Jonathan went to the market last week the price of 1 tomato was $6. This week the price of 1 tomato is $2. What is Johnathans original and new consumer surplus? What is the change in consumer surplus? B) Johnathan lives with...
Bob owns a farm and grows tomatoes. He sells the tomatoes to Jim's Ketchup Factory for $6,000. Jim produces Ketchup and sells it to Publix for $12,000. Publix sells the Ketchup to consumers for $19,000. As a result of these transactions GDP increases by $ The value added by Bob is $ The value added by Jim is $ The...
Bob owns a farm and grows tomatoes. He sells the tomatoes to Jim's Ketchup Factory for $6,000. Jim produces Ketchup and sells it to Publix for $12,000. Publix sells the Ketchup to consumers for $19,000. As a result of these transactions GDP increases by $ The value added by Bob is $ The value added by Jim is $ The...
10A-3. GLOBAL supermarkets of Bunol, Spain runs a special on tomatoes during the annual La Tomatina festival. They also run a money-back guarantee for anyone with unused tomatoes who is not completely satisfied with their aerodynamic qualities. From past history, GLOBAL knows tha only 1.5% of the tomatoes will be returned. This year they sell 400,000 kilograms of tomato es...
In the good old times, Old McDonald’s farm produced unprocessed tomato exclusively. Every year, the farm produced 100,000 tons and sold it at a profit margin of $2.1 per ton. In January 1998, Old MacDonald decided to start exporting processed tomato (tomato pulp) to Europe. At that time, the price of tomato pulp was $6 per ton. In order to...
1. In a perfectly competitive market, ________. a. Group of answer choices b. bargaining over prices is a common phenomenon c. there are restrictions on the entry of new firms d. sellers produce identical goods e. each seller charges a different price for its product 2. John is a tomato farmer and sells his crops in a perfectly competitive market...