1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kobusy [5.1K]
3 years ago
7

A purely competitive wheat farmer can sell any wheat he grows for $20 per bushel. His five acres of land show diminishing return

s because some are better suited for wheat production than others. The first acre can produce 1,000 bushels of wheat, the second 900, the third 800, and so on.How many bushels will each of the farmer's five acres produce? How much revenue will each acre generate? What are the TR and the MR for each acre?
Business
1 answer:
Vlada [557]3 years ago
8 0

Answer:

The answer is explained below.

Explanation:

a) The first hectare can produce 1,000 bushels of wheat, the second 900, the third 800, the fourth produce 700 and the fifth would produce 600 bushels.

b) The revenue = price per bushel × number of bushel.

First hectare = 1000 × $20 = $20000

Second hectare = 900 × $20 = $18000

Third hectare = 800 × $20 = $16000

Fourth hectare = 700 × $20 = $14000

Fifth hectare = 600 × $20 = $12000

3) The cumulative revenue at the nth farm = revenue at nth farm + revenue at (n-1) farm

Also The marginal revenue at the nth farm = cumulative revenue at nth farm - cumulative revenue at (n-1) farm

Acres       Q      P

rice           TR each acre          Cumm. TR           Marginal. TR

1             1000    $20            $20000                   $20000              $20000

2            900      $20            $18000                    $38000              $18000

3             800     $20            $16000                    $54000               $16000

4              700     $20            $14000                    $68000               $14000

5              600     $20            $12000                    $80000               $12000

You might be interested in
If in some year real gdp was $5 trillion and the gdp deflator was 200, what was nominal gdp?
nydimaria [60]
I think it’s d but I’m not so sure
8 0
3 years ago
Suppose the following information: The cost of a full-page color ad in the U.S. national edition of The Wall Street Journal (new
lawyer [7]

Answer:

E) Super Bowl

Explanation:

For computing the lowest CPM we need to do the following calculations

                                   (a)                                  (b)                           (a ÷ b)

Particulars                  U.S. national edition   U.S. audience size   CPM

Wall streel Journal     $327,897                    $1,566,027                  20.94%

USA today                   $207,720                   $1,711,696                    12.14%

Bloomberg

Businessweek             $148,300                    $900,000                   16.48%        

Sports Illustrated         $396,600                   $3,000,000                13.22%

Super Bowl telecast     $3,800,000              $108,400,000          3.51%

As we can see from the above calculations that the super bowl has the lowest CPM

hence, the option E is correct

3 0
3 years ago
If a good is inferior, then an increase in income will result in a(n) a. increase in the demand for the good. b. decrease in the
Paul [167]

Answer:

b. decrease in the demand for the good. 

Explanation:

An inferior good is a good whose demand falls when income increases and rises when income decreases.

A decrease in demand would lead to a leftward shift of the demand curve.

Inferior goods contrasts to a normal good. A normal good is a good whose demand increases when income rises and falls when income reduces.

Only a change in the price of a good leads to movement along the demand curve for that good.

I hope my answer helps you

7 0
3 years ago
What are the functions of business.
expeople1 [14]
The most likely answer is option D
4 0
3 years ago
Chuck Wagon Grills, Inc., makes a single productâa handmade specialty barbecue grill that it sells for $210. Data for last yearâ
anastassius [24]

Answer:

no ❤️️

Explanation:

No❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️ ❤️️  

4 0
3 years ago
Other questions:
  • Explain how e-business has created a new type of strategic alliance among companies.
    9·1 answer
  • Problem 3-2
    11·1 answer
  • Samantha runs a store that exclusively sells handmade vegan cosmetics. The store has a wide range of products manufactured by di
    6·1 answer
  • CWN Company uses a job order costing system and last period incurred $89,000 of actual overhead and $100,000 of direct labor. CW
    5·1 answer
  • Which of the following is an integral step in a pay-and-return scheme? A. Establish a shell company. B. Misappropriate the incom
    14·1 answer
  • Acme Manufacturing makes their preliminary economic studies using a​ before-tax MARR of 17​%.More detailed studies are performed
    14·1 answer
  • Select the correct answer. Which of these do you need to do when receiving criticism? A. Do not respond to criticism. B. Ignore
    14·1 answer
  • Who wants to talk??? :)
    15·2 answers
  • Dennis is going to be talking to his boss about wanting a raise. The purpose of his communication is to ______. a. Inform his bo
    7·2 answers
  • alexander industries is considering purchasing an insurance policy for its new office building in st. louis, missouri. the polic
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!