Answer questions no. 1 and 2. 1. Imagine yourself to be the owner of a large tract of agricultural land. You want the land to be productive, but then you have no idea how to farm. A landless farmer approached you and discussed with you the possibilities of him tilling your farm. What kind of economic/financial arrangement do you think would be appropriate for both of your benefits from the relations? Possible arrangements include: A. Employment of the farmer to be paid a fixed monthly wage B. Proportionate sharing of costs and profit C. Landowner bears all costs of farming implements and gets a bigger share of the profits D. Other options. Would you ple ase elaborate your answer 2. Reverse the scenario, this time, you are the farmer. The same question and options apply. Which do you choose? Clarify your response.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Answer questions no. 1 and 2.
1. Imagine yourself to be the owner of a large tract of agricultural land. You want the
land to be productive, but then you have no idea how to farm. A landless farmer
approached you and discussed with you the possibilities of him tilling your farm.
What kind of economic/financial arrangement do you think would be appropriate for
both of your benefits from the relations? Possible arrangements include:
A. Employment of the farmer to be paid a fixed monthly wage
B. Proportionate sharing of costs and profit
C. Landowner bears all costs of farming implements and gets a bigger share of the
profits
D. Other options.
Would you please elaborate your answer
2. Reverse the scenario, this time, you are the farmer. The same question and
options apply. Which do you choose? Clarify your response.
Transcribed Image Text:Answer questions no. 1 and 2. 1. Imagine yourself to be the owner of a large tract of agricultural land. You want the land to be productive, but then you have no idea how to farm. A landless farmer approached you and discussed with you the possibilities of him tilling your farm. What kind of economic/financial arrangement do you think would be appropriate for both of your benefits from the relations? Possible arrangements include: A. Employment of the farmer to be paid a fixed monthly wage B. Proportionate sharing of costs and profit C. Landowner bears all costs of farming implements and gets a bigger share of the profits D. Other options. Would you please elaborate your answer 2. Reverse the scenario, this time, you are the farmer. The same question and options apply. Which do you choose? Clarify your response.
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