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
Anit [1.1K]
3 years ago
6

A wheat farmer sells wheat to a grain broker Chicago. Since the market for wheat is generally considered to be competitive, the

wheat farmer maximizes his profit by choosing_____
Business
1 answer:
Citrus2011 [14]3 years ago
6 0

Answer:

The correct answer is: choosing output level where price equals marginal cost.

Explanation:

Since the market for wheat is competitive, the farmers cannot determine the price on their own, they have to take whatever price is determined by the market forces.  

In a perfectly competitive market, the seller will be able to maximize profit at the point of output where the price of the product is equal to the marginal cost of production of the last unit of output.  

So the wheat farmer will maximize its profit by choosing output where the price of wheat equals the marginal cost of producing the last unit of wheat.  

You might be interested in
Everal items are omitted from the income statement and cost of goods manufactured statement data for two different companies for
Mice21 [21]
✈︎✈︎✈︎✈︎✈︎✈︎✈︎✈︎✈︎✈︎✈︎✈︎✈︎✈︎✈︎ .............
6 0
3 years ago
Barlow Company's Accounts Payable balance at December 31, 2008, was P1,800,000 before considering the following transactions: •
mrs_skeptik [129]

Answer: The answer is 1950000

Explanation:

✓ Goods in transit on December 31, 2008:

Goods amounting to 100000 will be added into purchases of the year-end because they have already been sold as risk and rewards have been transferred to the Barlow that is goods have been physically dispatched to the Barlow. Hence this will increase accounts payable by 100000.

✓Goods in transit lost:

These words will also be included in the purchases and accordingly in the accounts payable irrespective of the fact that these have been destroyed. These goods were dispatched to the Barlow and therefore risk and rewards also been transferred hence purchase is done from Barlow's perspective.

So:

Total accounts payables are as under

Opening balance: 180000

Goods in transit reached next year:100000

Goods in transit lost:50000

Total: 1950000

4 0
3 years ago
The current market interest rate for $1,000, 10-year bonds of large corporations in the food industry is 6.3 percent. If a large
Alinara [238K]

Answer:

Convertible bonds

Explanation:

One advantege of convertible bonds for the issuer is that bondholders are willing to accept a loxer interest rate because they have an option of converting their bonds to common stock.  

If a company wants to issue bonds at an interest rate that is lower than the current market interest rate, they should offer convertible bonds.

6 0
3 years ago
It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. As a result, ope
Hoochie [10]

Answer:

D) The supply of the output from the hydroelectric power plants to increase

Explanation:

The externality here is a negative one where the hydroelectric plants has to bear the cost of pollution as the paper mills operates.

Correcting means to make the paper mills pay for the external costs of their production and compensate the power plant for the additional cost that incurred as they have to clean up the water.

As the cost of production reduces, the power plant will be more willing to supply electricity at similar prices, ie. their supply curve will shift to the right. It will intersect with the demand curve of the consumers at a point with higher quantity (and maybe lower price)

In other words, they will supply more electricity.

3 0
3 years ago
Consider two firms producing smartphones. one uses a highly automated robotics process, while the other uses human workers on an
anastassius [24]
A. Which Firm will have Higher Profits in a Recession Period ?
During a recession period trade and industries are unsuccessful and there is allot of unemployment. During the period supply in the market and level of output in the company are likely to be  low. Robotic automated process seems to be relatively cheap under high production output in a firm. Also the cost of maintenance of machinery is quite high which the firm can`t cater for during the period. In this period human workers are more recommended as the cost of production will be accounted for due to small numbers of employees where the cost of wages and salaries is quite low.
B. Which Firm will have a Higher Profit During a Boom?
During a boom the industry experiences a period of economic success as demand in the market is high. Automated robotics process are machines and carry out their work with allot of efficiency. Compared to human beings they are relatively faster and more efficient. This will will help the industry meet its high level of production target. They also reduce the cost of production as their maintenance cost is low under large scale production. Human workers seem expensive during this period because cost of wages and salaries is subject per-head.
The Firm with a Higher Beta.
The automated robotics firm will have a higher beta  this is because the output will be high leading to increased supply and sale for better profitability. The robots will also function as an asset to the firm increasing the net worth to the company.
7 0
4 years ago
Other questions:
  • The accountant for Huckleberry Company is preparing the company's statement of cash flows for the fiscal year just ended. The fo
    5·1 answer
  • Question 4 (5 points)
    5·1 answer
  • Along with four other owners of small retail stores, Scott was invited to participate in a(n) ______________ where the researche
    14·1 answer
  • Henry has a narrow scope in his job and does a few specific tasks as part of a larger production process. According to the job c
    9·1 answer
  • Job A offers you the following financial package: base salary of $35,000, 2 weeks paid vacation, full coverage health insurance
    12·1 answer
  • John decided to leave his job and open a bookshop in the city center. He was working as an engineer before and getting an annual
    14·1 answer
  • Select all the statements that are true about Secondary Markets only.
    5·1 answer
  • The government may pass laws to promote
    9·1 answer
  • ABC Corp. wants to save $1,000,000 to buy some new equipment four years from now. The plan is to set aside an equal amount of mo
    14·1 answer
  • rhodes borrowed $5,000 by signing a 5-year note with an interest rate of 8%. on the date the note is signed, rhodes should
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!