A genetic engineering average more tomatoes than other varieties. A farmer wants to test the claim on a small sca company claims that it has developed modified tomato plant that full-scale planting. Ten genetically modified tomato plants are grown from seeds along At the season's end, the resulting yields in pound are recorded as below Sample 1 Sample 2 Modified...
Maria wants to plant a small tomato garden in her yard. She bought 25 tomato plants, and she has read that ideally tomatoes are planted in a square grid to help thempollinate each other.
Fall 2019 Economics 2100 MY9 Section First Exam - Version A "I used to take the subway ten times a week and never took a cab. Now I have a high paying job so I go out more often than I used to. But I go in style. I take the subway five times a week and take a cab...
Currently, a farm's prot function for processing tomatos is: π = $400 · t − $10, 000, where t is tons of tomatoes. How many tons does the farm need to produce to break even (π = 0)? If overhead costs fell from $10,000 to $8,000, then how many tons would the farm to produce to break even
Eggplants and tomatoes are perfect complements for Mario, since the only recipes he knows use tomatoes(denoted as x) and Eggplants(denoted as y) together in a 1:2 ratio. One week his garden yielded 10 pounds of tomatoes and 40 pounds of eggplant. At that time the price of each vegetable was $5 per pound. a. What is the monetary value of...
Standard Product Cost, Direct Materials Variance Condiments Company uses standards to control its materials costs. Assume that a batch of ketchup (800 pounds) has the following standards: Standard Quantity Standard Price $0.39 per lb. Whole tomato es 1,300 lbs. 70 gal $2.40 per gal. Vinegar 6 gal $ 8.70 per gal. Corn syrup $2.20 per lb 28 lbs. Salt The...
Problem 3. Tom's Inc, makes two salse prelucts Western Foods salsa and Mexico City salsa Essentially, the two products have different blends of whole tomatoes, tomato sauce, and tomato paste. A jar of Western Foods salsa uses 5 ounce of whole tomatoes, 3 ounces of tomato sauce. and 2 ounces of tomato paste. Alar of Mexico City sale consists of...
Suppose a frost destroys the tomato crop in California but farmers see an increase in their revenues. Which of the following best explains this? Tomatoes are necessities. The decrease in supply led to huge price increases. The demand for tomatoes is price inelastic The cross-price elasticity between tomatoes and most other substitute vegetables is very low
Question 18 Suppose a frost destroys the tomato crop in California but farmers see an increase in their revenues. Which of the following best explains this? The demand for tomatoes is price inelastic. Tomatoes are necessities. The decrease in supply led to huge price increases The cross-price elasticity between tomatoes and most other substitute vegetables is very low,
In July 2018, vandals in Farmland poisoned ten million tomato seedlings by putting herbicide into the irrigation water. The seedlings were killed. These seedlings would have produced many of the tomatoes that were planned to be sold in Farmland in October 2018. For each of your answers below, identify the condition (determinant) of demand and/or supply and the impact on...