From a resource standpoint, the important point of this comparison is that including the marginal external costs of production and allocating resources based on the full social cost results in a higher price for the good (Ps > Pp) and less output (Os < Op) than only including the private costs.
Today, the nation's farmers are 17 years older than the average American worker, with the ranks of farmers who are 75 years and up outnumbering those in their prime working years of 35 to 44. One big reason U.S. farmers are going gray: spiraling costs.
Cows with 120+ answers. Depends on the type or class. Modern dairy cattle have an average lifespan between 5 to 6 years. Cattle raised for beef have a lifespan between 12 to 24 months. Beef cattle for breeding have an average lifespan of around 8 to 12 years. Cattle have been known to live over twice as long as what's considered average, depending on breed, productivity (usually), health status, temperament, and/or how much of an emotional value they hold for the producer or owner.