A Recent Flood in Alberta Has Destroyed Much of the Farmland

question 111

Essay

A recent flood in Alberta has destroyed much of the farmland that lies in fertile regions near the rivers. Describe the effect of the flood on the marginal productivity of land, labour, and capital. How would the flood affect the price of inputs? Provide some examples

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Definitions:

Crowdsourcing

The practice of obtaining information, ideas, or content by soliciting contributions from a large group of people, typically from the online community, rather than from traditional employees or suppliers.

Low-cost

Referring to goods or services offered at a low price point, typically aiming to be affordable to a wide range of consumers.

Information Technology

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Organization

An arranged group of people with a particular purpose, such as a business or government department.