On October 1, 20X1, a company purchased a piece of land by agreeing to pay the seller $450,000 in two years. If the company had borrowed the money from a bank to pay the seller immediately, management estimates the bank would have required interest of 9%. For what amount should the company record the land on the date of purchase (rounded to the nearest dollar)?

a. $450,000.
b. $412,844.
c. $378,756.
d. $369,000

Assume that a large firm buys all the farms in northern florida and becomes the only employer of farm workers in the northern half of the state. a. explain how the competitive labor market functioned before the buyout of the independent farms. how was the wage rate and quantity of workers employed in the market determined? b. what will happen to the wage rate and employment of farm workers after the industry becomes monopsonistic? illustrate your answer with an appropriate graph. c. what is mrc? why is mrc a part of the monopsony graph and not a part of the perfectly competitive labor market graph?