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muminat
4 years ago
9

Suppose that corn farmers want to increase their total revenue. Knowing that the demand for corn is inelastic, corn farmers shou

ld
a. plant more corn so that they would be able to sell more each year.
b. increase spending on fertilizer in an attempt to produce more corn on the acres they farm.
c. reduce the number of acres on which they plant corn.
d. contribute to a fund that promotes technological advances in corn production.
Business
1 answer:
In-s [12.5K]4 years ago
4 0

Answer:

The corm farmers should reduce or decrease the number of acres on which they plant the corn. Therefore, the correct answer is C

Explanation:

The demand for the product is inelastic which means it is a situation or scenario in which the demand of the product does not increase or decrease likewise with rise or fall in the price of the product.

In order to increase the aggregate revenue on the product (corn) whose revenue is inelastic, the farmers should decrease the number of acres on which they grow or plant the corn.

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Purchases = Sales units + Closing inventory - Beginning Inventory
                  = 7,400 + (2,400 * 120%) - 2,400
                  = 7,800 units
6 0
4 years ago
As Shirley responded to a personnel director's concerns about changing to the health-care plan her firm offered, she said, "I ca
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<u>Reffeal</u>

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5 0
3 years ago
Which of the following have editors with specific expertise designated to specific sections
Nady [450]

Answer:

its B newspaper

Explanation:

5 0
3 years ago
Read 2 more answers
When applying the characteristics of business buyer behavior, which event is not an example?
Anarel [89]

I'm on the same question right now. I wanna say C, <em>Black & Decker sells its power tools directly to consumers on the Internet.</em>

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Black & Decker isn't involved with any other businesses.

Anyways, I'd say C :)

EDIT: it is C, 100%. Just finished

5 0
3 years ago
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Nastasia [14]

Answer:

It would take 162 minutes to make one unit of product X.

Explanation:

Giving the following information:

Hours available to produce the products are the constrained resources.

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X Y

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Variable Cost 14 15

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B) False. The contribution margin per hour of Product B is higher than product Y.

C) False. The contribution margin per hour of $2 was before the improvement in product X.

D) False. Product Y has a higher contribution margin per unit but lower compared to the contribution margin per hour.

6 0
3 years ago
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