Chemistry question

2 chemistry question need answer.

1. What is the significance of a limiting reactant? Discuss how it is found and what it tells us about the amount of product that can be formed. Give a specific example of a limiting reactant, must show all work, must be own work.

2. Please explain:

"We first compute the theoretical yield as below

 

Theoretical Yield = molar mass of acetaminophenxmoles of acetamiophen

 

                         = 151.2g/molx 0.00144 mol

 

                         = 0.217 g