Investigate the farming industry. This is the last perfectly competitive market in America. So then, why are some farmers becoming millionaires while others are driving a school bus in the winter to make ends meet? How have economies of scale changed the market and do you see this industry maintaining its perfectly competitive status?

How do communism and socialism differ in terms of the role that government plays in the economy ?

From what part of income should someone take savings?

Hank itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. the following are required for production of a 70-gallon batch. 2,700 ounces of grape concentrate at $0.04 per ounce 77 pounds of granulated sugar at $0.43 per pound 133 lemons at $0.79 each 350 yeast tablets at $0.24 each 350 nutrient tablets at $0.14 each 2,500 ounces of water at $0.001 per ounce hank estimates that 4% of the grape concentrate is wasted, 9% of the sugar is lost, and 32% of the lemons cannot be used. compute the standard cost of the ingredients for one gallon of wine. (round intermediate calculations and final answer to 2 decimal places, e. g.