Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 8.W, Problem 5QAP

(a)

To determine

Effects of the development of agribusiness on small farmers and farm communities.

(b)

To determine

Agribusiness and small farmers.

(c)

To determine

Differences in reinvestment by small farmers and agribusiness.

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Problem 1.1 Cyber security is a very costly dimension of doing business for many retailers and their customers who use credit and debit cards. A recent data breach of U.S.-based Home Depot involved some 56 million cardholders. Just to investigate and cover the immediate direct costs of this identity theft amounted to an estimated $62,000,000, of which $27,000,000 was recovered by insurance company payments. This does not include indirect costs, such as, lost future business, costs to banks, and cost to replace cards. If a cyber security vendor had proposed 8 years before the breach that a $10,000,000 investment in a malware detection system could guard the company's computer and payment systems from such a breach, would it have kept up with the rate of inflation estimated at 4% per year?

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