AGEC 2003 : AgEc Exam 1 Notes
Document Summary
Objectives of economic agents: profit maximization, cost minimization, utility maximization. Trends in farm characteristics and output: number of farms decreasing, but much larger 6. 5 million farms in. 1920, 147 acres per farm/2. 2 million farms in 1998, 435 acres per farm: farm workers have declined 9. 3 million in 1950 to 2. 8 million in. Homework: http://www. ers. usda. gov/statefacts, average farm size (acres) 2007 269 acres, top commodity (dollars) 2010 soybeans ,693, top parish (dollars) 2007 union parish ,773. 1998-2000 (128 total counties, 113 rural counties: manufacturing dependent, 25% or more of earnings from manufacturing activities between 1998-2000 (905 total counties, 585 rural counties, federal/state government dependent, 15% or more of earnings from government activities between. 1998-2000 (381 total counties, 222 rural counties: services dependent, 45% or more of earnings from service activities (retail, trade, finance, insurance, real estate, and other services) between. 1998-2000 (340 total counties, 114 rural counties: nonspecialized, all counties that do not fall in other classifications between.
