Unskilled workers in a poor cotton-growing region must choose between working in a factory for $6,000 a year and being a tenant cotton farmer. one farmer can work a 120-acre farm, which rents for $10,000 a year. such farms yield $20,000 worth of cotton each year. the total nonlabor cost of producing and marketing the cotton is $4,000 a year. a local politician whose motto is "working people come first" has promised that if he is elected, his administration will fund a fertilizer, irrigation, and marketing scheme that will triple cotton yields on tenant farms at no charge to tenant farmers
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Unskilled workers in a poor cotton-growing region must choose between working in a factory for $6,00...
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