Business is Business
This is the term used for adding inputs to an expect before products plateau and rapidly decrease.
What is the law of diminishing returns?
This is the unit used when determining field capacity.
What is acres per hour?
This is how you would proceed with a piece of equipment if you want the most asset value and most tax benefits.
What is buying?
What is phase 3?
This is the common acronym for 100 pounds of milk.
What is CWT?
This is the term used for determining the best option at the cheapest cost.
What is least cost analysis?
This is the factor used for calculating actual field capacity.
What is field efficiency?
This is how you would proceed with a piece of equipment if you wanted to use it for a very short period of time.
What is renting?
This is the phase of production when products plateau and the input level is determined.
What is phase 2?
This is the phase of production when production grows exponentially.
What is Phase 1?
This is the term used being "a change in."
What is marginal?
This is the magic number used for calculating field capacity by dividing it into speed and length.
What is 8.25?
This is how you would proceed with a piece of equipment if you want to have it for an extended amount of time but cannot afford to buy it.
What is leasing?
What is full-time?
This is the type of budgeting that you would use when determining a specific change within the whole business.
What is enterprise budgeting?
This is what a producer should do when using the law of diminishing returns when Value of Marginal Product equals Marginal Cost.
What is stop adding inputs?
These are the two factors that determine field capacity.
What is length X speed?
What is maintenance costs?
This is the type of labor you would acquire if you wanted someone to work year round and earn up to 40 hours per week.
What is part-time?
This is the number of pounds in one gallon of milk.
What is 8.6 lbs?
This is the most common agribusiness application when using the law of diminishing returns.
What is fertilizer applications?
This is the term used when field capacity is determined under perfect conditions.
What is theoretical field capacity?
This is the largest disadvantage to leasing a piece of equipment.
What is restrictions on hours/miles/etc?
This is the type of labor you would acquire if you wanted help during the spring planting and fall harvest season.
What is seasonal labor?
An alternative to buying, leasing, or owning, this is what you would do if you wanted something done on your farm and you don't want to pay for the equipment required to do it.
What is custom hire?