Suppose a firm is using 1500 units of labour and 20 units of capital to produce 100 tonnes of mineral ore. The price of labour is $20 per unit and the price of capital is $1000 per unit. The MPL equals 25 and the MPK equals 750. In this situation, the firm should decrease the use of both inputs. the firm should increase the use of both inputs. the firm could lower its production costs by decreasing labour input and increasing capital input. the firm could lower its production costs by increasing labour input and decreasing capital input. Can't be determined without knowing the price of the product

Answers

Answer 1

In the given scenario, the firm should decrease the use of labour input and increase the use of capital input to lower its production costs.

The firm's objective is to minimize production costs while maintaining the desired level of output. To determine the optimal input combination, we need to consider the marginal products of labour (MPL) and capital (MPK) relative to their prices.

Given that MPL is 25 and MPK is 750, and considering the prices of labour and capital ($20 per unit and $1000 per unit, respectively), we can compare the marginal products to their prices. Since MPL/P (25/20 = 1.25) is less than MPK/P (750/1000 = 0.75), it indicates that the marginal product per dollar spent on capital is higher than that of labour.

Therefore, the firm should decrease the use of labour input and increase the use of capital input. By reducing the labour input and increasing the capital input, the firm can achieve a more cost-effective production process, improving efficiency and lowering production costs.

It's important to note that the answer assumes the objective of the firm is to minimize production costs. The optimal input combination can vary depending on other factors such as the price of the product, technology, and specific production constraints.

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Related Questions

There is a positive correlation between economic freedom and high per capita real gdpa. Trueb. False

Answers

True. Studies have consistently shown that there is a strong positive correlation between economic freedom and high per capita real GDP. Economic freedom includes factors such as low taxes, minimal government intervention, and ease of doing business. Countries with high levels of economic freedom tend to have more prosperous economies, as individuals and businesses are able to freely engage in market activities without unnecessary restrictions.

This leads to increased productivity, higher levels of innovation, and ultimately, higher per capita real GDP. Therefore, it is safe to say that there is a strong positive correlation between economic freedom and high per capita real GDP.
There is a positive correlation between economic freedom and high per capita real GDP. True.

When a country has more economic freedom, businesses and individuals can innovate and invest more efficiently, leading to higher levels of productivity and economic growth. As a result, countries with greater economic freedom tend to have higher per capita real GDP, reflecting an improved standard of living for their citizens. This relationship has been supported by various studies and is generally accepted among economists. However, it's essential to consider other factors that may contribute to a nation's economic success and individual well-being.

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If your company uses accrual basis accounting, what do you need to pay special attention to? A. Money the company owes B. Money that is owed to the company C. Cash flow D. Revenue Please select the best answer from the choices provided A B C D.

Answers

If your company uses accrual basis accounting, you need to pay special attention to **D. Revenue**.

Accrual basis accounting recognizes revenue when it is earned, regardless of when the payment is received. This means that revenue is recorded when the company provides goods or services to customers, even if the payment is received at a later date. By focusing on revenue, companies using accrual basis accounting can accurately reflect their financial performance and measure the value they have added to the business.

Option A (money the company owes) and Option B (money that is owed to the company) are related to accounts payable and accounts receivable, respectively, which are important components of financial management but not specific to accrual basis accounting.

Option C (cash flow) is an essential aspect of financial management for all businesses, regardless of the accounting method used. However, in the context of accrual basis accounting, revenue recognition focuses on earned revenue rather than the timing of cash inflows and outflows.

Hence, option D (Revenue) is the best answer when considering the special attention required under accrual basis accounting.

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select all the correct answers. what were two effects of the lack of representation of the third estate in the estates-general?

Answers

The lack of representation of the Third Estate in the Estates-General had two major effects. it caused the Third Estate to become increasingly angry and it led to an unequal taxation system

First, it caused the Third Estate to become increasingly angry and frustrated over the lack of power they had in their government. This anger was expressed in the National Assembly and ultimately led to the French Revolution.

Second, it led to an unequal taxation system. The Third Estate was forced to pay more taxes than the other two estates, which led to an increasing sense of unfairness and resentment.

This increased tension between the different estates and ultimately resulted in the collapse of the Ancien Régime.

In summary, the lack of representation of the Third Estate in the Estates-General had two major effects. It caused the Third Estate to become increasingly angry and frustrated, leading to the French Revolution.

It also led to an unequal taxation system which caused resentment and tension between the different estates and resulted in the collapse of the Ancien Régime.

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"The country of bienmundo does not trade with any other country. its gdp is $30 billion. its government purchases $5 billion worth of goods and services each year and collects $6 billion in taxes. private saving in bienmundo amounts to $5 billion. what are consumption and investment in bienmundo?"

Answers

Answer:

Consumption in Bienmundo =$19bn

Investment in Bienmundo =$6bn

Explanation:

Formula for calculating private savings is ;

1. Private savings = GDP - Tax - Consumption

$5bn = $30bn - $6bn - Consumption

Consumption = $30bn - $6bn -$5bn

Consumption = $19bn

We will also use the formula for calculating GDP without export and import because Bienmundo does not trade with any other country

2. GDP = Consumption + Government expenditure + Investments

$30bn=$19bn + $5bn + Investment

Investments = $30bn -19bn - $5bn

Investments = $6bn

Students usually attend a vocational school for _____ years or less.
A.1 B.2 C.3 D.4

Answers

Answer:

2

Explanation:

Answer:

four

Explanation:

if u think bout it its four years and makes more sence and mroe realistic

There are 8 kinds of sewing machine. Are all of them are used for constructing a garment? Why?

Answers

no, they can be used for mechanical uses

internet advertising is impersonal, one-way mass communication. true false

Answers

While it is true that internet advertising can be one-way mass communication, it is not necessarily impersonal. False.

With the advancement of technology and data analytics, internet advertising has become increasingly personalized. Advertisers can use targeted advertising techniques to reach specific audiences based on their demographics, interests, and online behavior. This allows for a more personalized and tailored approach to advertising, which can help build relationships with customers and increase engagement.

Additionally, social media platforms provide opportunities for two-way communication between advertisers and customers through comments and direct messages. This allows for a more personalized and interactive experience for customers.

Overall, while internet advertising can be one-way mass communication, it has evolved to become more personalized and interactive in recent years, making it a valuable tool for businesses to connect with their target audience. False.

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Outline TWO benefits of using the FIFO system for Mcdonald’s

Answers

There are several benefits for McDonald's by using FIFO methods. Here we will discuss some of them: better food hygiene, which gives more customers satisfaction; easier to reduce products near their end-date—resulting in more sales and less waste;

What is FIFO?

FIFO is a measuring tool for inventory valuation or management. In this, we have sold the goods which come first. This is called a FIFO, which is known as First In First Out.

Thus, McDonald's using the FIFO method gets such benefits as better food hygiene, which gives more customer satisfaction; easier to reduce products near their end-date – therefore more sales and less waste.

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Public Good Contribution: Three players live in a town, and each can choose to contribute to fund a streetlamp. The value of having the streetlamp is 3 for each player, and the value of not having it is 0. The mayor asks each player to contribute either 1 or nothing. If at least two players contribute then the lamp will be erected. If one player or no players contribute then the lamp will not be erected, in which case any person who contributed will not get his money back.


Required:

Write down each player's best response correspondence

Answers

The best response for either of the players is to contribute 1 if at least one of the other players contributes 1, and to contribute nothing if both of the other players contribute nothing.

How should the players respond ?

In game theory, a best response correspondence is a mapping from each player's set of possible strategies to a subset of those strategies that are best responses to the strategies chosen by the other players.

Player 1's best response correspondence indicates that if at least one of the other players contributes 1, then Player 1 should also contribute 1, as this would result in the streetlamp being erected and a utility of 3 for each player. If neither of the other players contribute, then Player 1 should also not contribute, as there would be no streetlamp and a utility of 0 for each player. The same logic applies to Player 2 and Player 3.

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The application of scientific knowledge to the development and improvement of goods and services is generally referred to as ______. Multiple choice question. technology information production

Answers

Answer:

Technology.

Explanation:

As the definition is seen above, these qualities are directed towards technology. Technology has advanced produce and sales of goods and services a lot. It shows itself in fastening and making production easier. And also in different other forms that come as advertising, E-commerce, communication etc. Orders of certain goods are been sent thousands miles away from the producing country and are seen to be received safe and sound at the other end of the purchase country. Also adverts can be seen of a Chinese product in far away Africa through television commercials and also internet.

The demand for seats in 10 a.m. classes at the College of the Canyons is higher than the demand for seats in 8 a.m. classes. The supply is fixed. If the college prices classes at the price required to achieve equilibrium at 10 a.m., there will be

Answers

If the institution prices classes at the price required to achieve equilibrium at 10 a.m., there will be a surplus at 8 a.m.

What is the demand?

The demand is defined as the quantity of commodity that a customer of a product wants it at each possible prices during a given period of time. This relation of demand with the price is an inverse relation.

In this scenario, the demand for seats at 10 a.m. classes at the College of the Canyons is greater than the demand for seats at 8 a.m. classes.

There will be a surplus at 8 a.m. if the college prices classes at the price required to attain equilibrium at 10 a.m.

Therefore, demand is opposite to the supply.

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if you can please help lol i’ll give u a brainlest thank youuu

if you can please help lol ill give u a brainlest thank youuu

Answers

Answer:

$650 is the answer....

Explanation:

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Kathy and Jake are purchasing a house and are financing $465,000. The mortgage is a 20-year
5/1 ARM at 3.5% with a 2/7 cap structure. What will the remaining balance be after the first 5 years?

a $396,038.65
b$427,354.28
c $407,836.29
d $377,238.57

Answers

Answer:

D

Explanation:

The remaining balance on a 20-year 5/1 ARM at 3.5% interest with a 2/7 cap structure after 5 years will be $377,238.57.

Pro life tip: Do NOT finance your home with an ARM mortgage.

Good luck in your studies!

Which statement about game rules is NOT true? A. Without rules, there is no competition. B. Competitors should accept penalties for rule violations. C. Rules form a contract by which we compete. D. Rules are made to be broken. Please select the best answer from the choices provided. A B C D

Answers

Answer: THE ANSWER IS (D)

Explanation:

The correct option is: D. Rules are made to be broken.

What are the game rules?

Rules may be defined as statements and directions that must be followed within a given game in order for it to be played correctly. They are often fixed as "rulesets," created by the game designer and agreed upon by the players. The interactions between rules create the formal system underlying any given game.

Are rules important in a game?

Rules provide an agreement of understanding to competition. In sports, rules define what is allowed or not allowed to occur during situations on and off the court. Rules govern anything from wearing proper uniforms to how to keep score during games of different levels of competition.

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Buckle retail outlet stores are typically located in major and regional indoor shopping centers. Buckle's products appeal to customers who enjoy dressing in the latest denim and casual fashion. The sales associates are trained to deliver a high level of customer service, offering suggestions on sizing, selection, and putting outfits together. In addition, associates assist with after-sale service and are able to handle returns and provide money back or store credit if a customer does not have their sales receipt. Thus, sales associates are _______ to do what's necessary to assure customer satisfaction and loyalty, since they have authority to solve customer problems on the spot.

Answers

The sales associate should be empowered for assuring customer satisfaction & loyalty at the time when there is an authority for solving out the customer problem on the spot.

The following information should be relevant:

The salesperson should be empowered that represent it that it could make the decision regularly in order to make the customer experience. Here the empowered means the authority or the power for controlling the own lives.

Therefore we can conclude that the sales associate should be empowered for assuring customer satisfaction & loyalty at a time when there is an authority for solving out the customer's problem on the spot.

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According to the textbook, Iceland used crowdsourcing to
rewrite its constitution.
elect members of its parliament.
elect its president.
rename its capitol city.

Answers

The textbook claims that Iceland revised its constitution via crowdsourcing. The current Icelandic constitution was drafted in 1944, the year that the nation declared its independence from Denmark. There was no feedback from the people in the document.

Was Iceland's constitution revised?

A special Constitutional Assembly was created by the government under Act on a Constitutional Assembly No. 90/2010 to update the Icelandic Constitution of the Republic.

Is Iceland a democracy or a totalitarian regime?

Iceland is a multi-party republic with a constitution. The President is the sovereign. The Government has the right to wield executive power. With its parliament, the Althingi, having been founded in 930, Iceland is perhaps the oldest parliamentary democracy in the world.

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Which is most often a cause for a change in career or lifestyle? A) adjustments in vacation B) adjustments in life roles C) career satisfaction D) lifestyle satisfaction

Answers

Answer:

B adjustments in life roles

Explanation:

because if you have to adjust your life role or comfort zone to do something totally different it would mess up your timing and how you would do things

Adjustments in life roles are most often a cause for a change in career or lifestyle. Thus, option B is correct.

What is life role?

A life role is something that a person plays in his lifetime. here are eight life roles that a person follows. Those eight are:

Child, Student, Leisure, Citizen, Worker, Parent, Spouse, Homemaker

If a person needs to fit in any of these eight careers or wants to move from one lifestyle to another, then they make too many changes in their lifestyle or even make a change in their career.

For example, if Tanya was a working woman and decides to get married, then that means that she will also be a spouse and a part of homemaker, and a worker too. Then she does need to make some changes to fit all of these new adjustments and changes in her life. Therefore, option B is the correct option. Therefore, option B is the correct option.

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an easy way to avoid problems with different versions of job descriptions is simply to replace revised documents. true or false

Answers

The given statements "An easy way to avoid problems with different versions of job descriptions is simply to replace revised documents" is True.



By replacing the revised documents, you ensure that everyone is working with the most up-to-date and accurate version of the job description. This helps maintain consistency and clarity in expectations for the role, ultimately avoiding confusion and problems.

It can help avoid confusion, misunderstandings, and potential issues that may arise from using outdated job descriptions.

Revised documents refer to updated or modified versions of documents, such as job descriptions or policies, that have been revised to reflect changes or improvements. Replacing outdated documents with revised ones can help ensure that everyone has access to the most up-to-date information and reduce confusion or errors that can arise from using different versions of the same document.

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As a private limited firm dealing with garment manufacturing, you have little cash in hand but considerable business potential. You suddenly get an order to deliver 1,000 shirts at a price of $50 each. You have the entire infrastructure in place, but need $15,000 to procure the fabric and accessories for shirts. How will you raise money to serve this order? How will the answer differ if the business is a sole proprietorship?

Answers

Answer:

A private limited firm refers to a corporation. A corporation’s internal sources of financing are mostly limited to its retained profits, and money realized from the sale of its assets. In case of the given example, because the company does not have enough cash on hand, it will have to rely on several external sources of financing. The most important source of procuring financing for the company is a bank loan. Thus, the company can raise money from institutions such as banks or other creditors in the form of loans. The company will need to repay loans in the future, and therefore the company will record this as a liability in its accounts. However, these ways of procuring money would help the company arrange $15,000 in order to purchase the fabric and other accessories.

The sources of financing will remain the same even in the case of a sole proprietorship; that is, retained earnings or loans from external sources such as banks. However, in the case of a public limited company, the answer would change. In the case of a public limited business, it has another option of raising financing through the issue of common or equity shares.

Which player in the economy supplies labor in the factor market?

a. Government
b. Households
c. Business firms
d. Rest of the world

Answers

The player in the economy which supplies labor in the factor market is the households.

What is supply of labor?

This refers to the number of labor who are willing and able to find work in an economy. The supply for labor is also the hours worked by a workers within a time period.

Hence, the player in the economy supplies labor in the factor market is the households.

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Answer: Households

HouseHolds supply the factor market.

PLS Help like fast im on a test and its timed!!!!!Workers typically get dirty if they work at a job site for: 1.both the Construction and Design pathways. 2. both the Construction and Maintenance pathways. 3. the Maintenance pathway only. 4. the Design pathway only.

Answers

Answer:

b

Explanation:

say hi and i give u 94 ranking points

Answers

hi rtgijriomcfrcrecgtrcgetrgretrtrct

Answer:

hi

Explanation:

Describe how you will operate your business. For 7 eleven

Answers

7-Eleven is a popular chain of convenience stores that operates internationally. They sell essential items like packaged snacks, candy, cold and hot beverages, ready-to-eat meals, personal hygiene products, and tobacco products. The store operates 24/7, and it is common to see the brand in petrol pumps.

It is operated in a franchise model. Here is how one can operate a 7-Eleven franchise. First and foremost, an aspiring franchisee needs to fulfill the basic requirements like legal age, citizenship, and criminal background check. They also need to have a minimum investment of $50,000 - $1,500,000, depending on the store's location, size, and other factors.

A franchisee should be willing to take the responsibility of managing the store and hiring and training the staff. Once the store's location is finalized, the franchisee will receive extensive training on how to run the store, inventory management, marketing, and customer service. The franchisee will receive a lot of support from the parent company, including promotions, advertising, and supplies.

They can leverage the parent company's vast resources and know-how to grow the business. It is important to maintain the store's cleanliness, orderliness, and customer service to ensure customer satisfaction and retention. The franchisee should strive to provide excellent customer service and personalize the experience for each customer. It is recommended to participate in the parent company's loyalty programs, seasonal promotions, and discounts to drive sales.    

To conclude, running a 7-Eleven franchise requires commitment, dedication, and hard work. One needs to ensure the store's operational efficiency, customer satisfaction, and profitability. With proper training, support, and marketing, a franchisee can build a successful business.

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How long may information regarding bankruptcy be retained in a consumer's credit report?

Answers

According to the Fair Credit Reporting Act (FCRA), credit bureaus may retain bankruptcy data in a consumer's credit report for up to ten years.

Bankruptcies, according to the FCRA, are one of the most serious debts that can appear on a credit report. They typically have a substantial impact on a consumer's credit score because they indicate that the consumer was unable to pay their debts as promised.Lenders and creditors will check a consumer's credit score to determine their creditworthiness.

The better your credit score, the more likely you are to receive a loan, credit, or other financial product. Having bankruptcy on your credit report, on the other hand, will almost certainly result in the lender or creditor denying the application. As a result, it is critical to maintaining a high credit score to maintain healthy finances.

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Post-Assessment
Question 2 of 5
Why is buying a car considered "bad debt"?
It decreases in value over time
It increases your net worth as it build equity
It gives you transportation to and from your job
It is worth more than any other investment
Submit
Continue
E

Answers

The reason why buying a car considered "bad debt"is that It decreases in value over time. option A

What is  bad debt?

The term bad debt can be described as the amount of money that a creditor must write off as a result of a default on the part of the debtor in a case whereby the creditor has a bad debt on the books,  then things turn to uncollectible and is recorded as a charge-off.

It should be noted that a case can be regarded as bad debt because the value of the asset you receive from the loan depreciates quickly however in some cases  interest charges increase how the amount that is been paid for the vehicle.  and in thius case cost is higher compare to what it would be if you'd purchased the car outright with cash.

Hence, option A is correct.

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in a swot analysis, the prospect of entering new markets and launching new products would be listed under _______.
a. threats b. weaknesses c. opportunities d. strengths

Answers

Opportunities in a SWOT analysis might include the potential for expanding into new markets and introducing new goods.

What are some applications of SWOT analysis?

The SWOT analysis measures a company's strengths, weaknesses, opportunities, and threats. The internal strengths and weaknesses of your business are aspects over which you have some control and where improvements may be made. Examples include your team members, your patents and intellectual property, and where you are.

Which four areas does SWOT analysis cover?

Strength, Weakness, Opportunity, and Threat, or SWOT, are its initials. A SWOT analysis helps you pinpoint the advantages and disadvantages (S-W) of your company as well as potential threats and opportunities (O-T). Gaining a more complete understanding of the issue is beneficial for both strategic planning and decision-making.

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complete the statement with the correct words the blank was established in 2010 as a result of the dud Frank Act​

Answers

Answer: Consumer Financial Protection Bureau

Explanation:

The Consumer Financial Protection Bureau (CFPB) was established in 2010 as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act which was passed by congress in a bid to make changes to the nation's financial systems and correct factors that may contribute to another crises like the Great Recession of 2008.

The CFPB's role is to protect the interest of customers in the financial services sector and as a result all financial services providers in the United States fall under its jurisdiction including banks, securities firms and credit unions.

some jobs pay a commission plus a bonus at the end of the year the bonus may be a percent of the salesperson's total commission madelyn carr is a sales representative for

Answers

Madelyn Carr, who works as a sales representative, earns a commission on the products that she sells as well as a bonus that is equal to a percentage of the total commission that she earns.

Sales representative Madelyn Carr receives a commission and bonus at year's end. Madelyn's commission portion is the bonus. Salespeople are usually paid this way to increase sales.

Commissions are usually a proportion of Madelyn's sales. Madelyn's commission is $1,000 if she sells $10,000 at 10%.

Madelyn's performance determines the bonus. The incentive proportion depends on corporate policy and performance. If Madelyn's bonus percentage is 20% and her annual commission is $5,000, her bonus is $1,000.

The incentive is usually dependent on Madelyn's total commission, not simply her sales. Her bonus will increase with sales performance.

Salespeople are motivated by this compensation system because it compensates them for meeting sales goals. The commission directly links sales performance to earnings, while the bonus encourages exceptional performance.


In summary, Madelyn Carr, as a sales representative, receives a commission based on a percentage of her sales and a bonus that is a percentage of her total commission. This compensation structure aims to incentivize and reward her for her sales performance throughout the year.

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At what annual interest rate, compounded annually, would $480 have to be invested for it to grow to $1,979.62 in 13 years? C The annual interest rate, compounded annually, at which $480 must be invested for it to grow to $1,979.62 in 13 years is %. (Round to two decimal places.)

Answers

The annual interest rate, compounded annually, at which $480 must be invested for it to grow to $1,979.62 in 13 years is 8.17%.

We can use the formula for compound interest to solve this problem:

A = P(1 + r)^t

where A is the final amount, P is the principal (initial investment), r is the annual interest rate (as a decimal), and t is the number of years.

In this case, we know that P = $480, A = $1,979.62, and t = 13. We want to solve for r:

$1,979.62 = $480(1 + r)^13

Dividing both sides by $480:

4.12337541667 = (1 + r)^13

Taking the 13th root of both sides:

1 + r = 1.08171876629

Subtracting 1 from both sides:

r = 0.08171876629

Multiplying by 100 to convert to a percentage and rounding to two decimal places, the answer is:

The annual interest rate, compounded annually, at which $480 must be invested for it to grow to $1,979.62 in 13 years is 8.17%.

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The free cash flows (in millions) shown below are forecast by Simmons Inc. If the weighted average cost of capital is 13% and the free cash flows are expected to continue growing at the same rate after Year 3 as from Year 2 to Year 3, what is the Year 0 value of operations, in millions?
Year: 1 2 3 Free cash flow: −$20 $42 $45

$680
$648
$617
$586
$714

Answers

Answer:

If the weighted average cost of capital is 13% and the free cash flows are expected to continue growing at the same rate after Year 3 as from Year 2 to Year 3, ...

Explanation:

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