1. land, labor, and capital are examples of what three types of scarce resources? a. b. c. 2. an agribusiness firm may undertake three alternatives: alternative 1: buy cane sugar and manufacture various sugars and sweets, making a profit of $10 million; alternative 2: buy wheat and produce bread, rolls, and pastries, making a profit of $15 million; or alternative 3: buy corn and produce tex-mex foods, making a profit of $12 million. a. which alternative should this agribusiness firm undertake? why? b. the opportunity cost associated with these three choices is $ million. 3. a. concern has been expressed on the part of congress and the president about what should be the optimal tax rate for those individuals who make more than $500,000 per year. this issue corresponds to what branch of economics? b. what branch of economics is concerned with the effects of food safety (e.g., e. coli) on consumer demand for beef (i.e., what-if types of questions)? c. what branch of economics is concerned with the rate of inflation and the unemployment rate? d. what branch of economics deals with the firefox https://plus.pearson/products/a394c7c7-e17e-461c-a067-91d84d2... 1 of 3 12/29/2022, 1:58 am consumption expenditures of agec 105 students at texas a