In a World of Perfect Certainty, Sharecropping Would Be Less

question 16

Multiple Choice

In a world of perfect certainty, sharecropping would be less efficient than a farm owner working his own farm because

• A)sharecroppers receive only half of their marginal product.
• B)paying a worker a wage gives him or her an incentive to shirk.
• C)sharecroppers are exploited by landlords.
• D) renting farmland concentrates risk on the renters.
• E) All of the above.

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Definitions:

Toluene

A colorless, water-insoluble liquid hydrocarbon with the chemical formula C7H8, used as an industrial solvent.

P-Toluic Acid

A type of benzoic acid derivative where the methyl group is positioned para to the carboxylic acid group.

Toluene

An aromatic hydrocarbon used as an industrial solvent, known for its benzene ring attached to a methyl group.

Alkenes

Unsaturated hydrocarbons containing at least one carbon-carbon double bond, characterized by the general formula CnH2n.