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The time decline of 95% for wheat was followed by an 85% decline in the time for corn: From 1855 to 1894 the time of human labor required to produce one bushel of corn on an average declined from four hours and thirty four minutes to forty-one minutes.
The sacrifice in the production of the second good is called the opportunity cost (because increasing production of the first good entails losing the opportunity to produce some amount of the second). Opportunity cost is measured in the number of units of the second good forgone for one or more units of the first good. [4]
Pigeons are sold at the rate of 5 for 3, sarasa-birds at the rate of 7 for 5, swans at the rate of 9 for 7, and peacocks at the rate of 3 for 9 (panas). A certain man was told to bring 100 birds for 100 panas. What does he give for each of the various kinds of birds he buys?
In the same year, there were 13.7 million harvested acres of corn for grain, producing 2.36 billion bushels, which yielded 172.0 bu/acre, with US$14.5 billion of corn value of production. [29] Almost 1.88 billion bushels of corn were grown in the state in 2012 on 13.7 million acres of land, while the 2013 projections are 2.45 billion bushels of ...
The main prewar agricultural products of the Confederate States were cotton, tobacco, and sugarcane, with hogs, cattle, grain and vegetable plots. Pre-war agricultural production estimated for the Southern states is as follows (Union states in parentheses for comparison): 1.7 million horses (3.4 million), 800,000 mules (100,000), 2.7 million dairy cows (5 million), 5 million sheep (14 million ...
The sector must consider opportunity costs in decisions related to the allocation of scarce resources, premised on improving the health of the population. [26] However, the opportunity cost of implementing policies to the sector has limited impact in the health sector.
And as you look at breakeven prices, compared to 100% owned versus 50%, that can -- it's like a $0.50 per bushel of difference on corn breakeven depending on if you fully own or you're renting 50%.
According to a Reuters article, "Analysts, including some in the ethanol sector, say ethanol demand adds about 75 cents to $1.00 per bushel to the price of corn, as a rule of thumb. Other analysts say it adds around 20 percent, or just under 80 cents per bushel at current prices.