A Substance Has a Half-Life of 56 Years

question 152

Short Answer

A substance has a half-life of 56 years. What percent of the original amount of the substance will remain after 20 years? Round to the nearest percent.

Understand the evolution and components of U.S. farm policy, including differences between the Food, Conservation, and Energy Act of 2008 and the Freedom to Farm Act of 1996.

Comprehend the economic principles underlying the demand for agricultural products, including the concepts of price elasticity and inelastic demand.

Analyze the impact of agricultural policies on farm outputs and the share of U.S. GDP.

Recognize the specific features and impacts of agricultural support programs, such as the Agricultural Act of 2014 and the marketing loan program.

---

Definitions:

Weak Axiom of Cost Minimization (WACM)

An economic principle stating that if a set of goods is chosen over another set at the same prices, then the chosen set should not cost more than the other when prices change.

Input Bundle

A combination of resources or inputs used in the production of goods and services.

Unit Costs

The cost incurred by a company to produce, store, and sell one unit of a particular product or service.

Price Ratio

The relative price of one good or service compared to another, often used in economic analysis.