Question

**If your family owned a dairy farm, what measures would
you undertakes to improve the quality and quantity of milk
production?**

Answer #1

If your family owned a dairy farm, what measures would
you undertakes to improve the quality and quantity of milk
production?

Suppose you are a manager of a dairy farm. You are currently
milking 100 cows and each cow produces 22,000 pounds (220 cwt) of
milk per year. To produce this quantity of milk, the farm milks the
each cow twice a day (once in the morning and once in the
afternoon). Now suppose milk prices are increasing. Over the past
few months the price of milk has increased and milk is now selling
for $15/cwt. The increase in milk price...

Suppose you are a manager of a dairy farm. You are currently
milking 100 cows and each cow produces 22,000 pounds (220 cwt) of
milk per year. To produce this quantity of milk, the farm milks the
each cow twice a day (once in the morning and once in the
afternoon). Now suppose milk prices are increasing. Over the past
few months the price of milk has increased and milk is now selling
for $15/cwt. The increase in milk price...

Do you think the changing forms of family affect the quality of
family life? state your reasons.

dairy farmer has hired you to analyze the profitability of
investing in robotic milkers. The dairy farmer provided you with
the following data. The cost of the robots and upgrading the
facility would be $703,750. Repair costs would be $10,000 per year.
The robots would save 1,820 hours of labor per year. Assume a labor
rate of $15.00/hr. The robots are also projected to help increase
milk production by 4,900 addition cwt per year. Assume a price $15
per cwt...

10. The demand for milk and the total costs of a dairy are
specified by the following equations:
P(Q) = 100 − Q
TC(q) = 30q
(a) Suppose there is a monopoly in the industry. Derive an
equation for marginal revenue of the monopolist. Graph the demand
and marginal revenue curves.
(b) Derive the marginal cost (MC) and average cost (AC) of milk
production. Graph MC and AC on the same graph as (a).
(c) Show the monopoly’s profit-maximizing price...

Assume that you have inherited the family farm while mid-way
through your undergraduate degree. The farm produces wheat. You
want to complete your major in economics and want to employ a
manager. The manager relies only on the income I you offer
and she is assumed to maximise expected utility.
Her utility, at low effort: √I
Her utility, at high effort: √? −
46.3.
You are considering two compensation
packages:
Pay a flat salary of $50,000.
Assuming a flat salary,...

Do you think there are circumstances where employee empowerment
would hurt rather than improve quality?

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