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what are the basic principles of farm management?​

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[tex]\large{{\underline{{\sf{Question:}}}}}[/tex]

  • what are the basic principles of farm management?

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[tex]\large{{\underline{{\sf{Answer:}}}}}[/tex]

Farm Management Principles

  • a. Principle of variable proportions or laws of returns.

  • b. Cost principle.

  • c. Principle of substitution between inputs.

  • d. Equi-marginal returns principle or opportunity cost principle.

  • e. Principle of substitution between products.

  • f. Principle underlying decisions involving time and uncertainty.

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