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Lorico [155]
3 years ago
8

2001 was a bad year for Red Delicious apple farmers in Washington State. The market price for Red Delicious apples was $10.61 pe

r box. As a result, many farmers decided not to pick the apples off their trees and instead let them rot. Assuming that the Red Delicious apple market was perfectly competitive, is it possible that these farmers were profit maximizing when they decided to let their apples rot in the short-run
Business
2 answers:
scoundrel [369]3 years ago
7 0

Answer: This statement is correct. Maximizing profit refers to short run or long run process by which a businessdetermine the price, input, and output levels that lead to the highest profit possible.

By choosing not to not to pick the apples off their trees and instead let them rot the farmers are in fact maximizing profits as picking them and selling might lead to loss.

Alexxx [7]3 years ago
6 0

Answer:

<u>No</u>

Explanation:

Remember, when we say a firm is in a perfectly competitive market we imply that the firm has no overall dominance  in the market but have other competitors who sell the same products.

Therefore the Delicious apple farmers would not be maximizing profit, if the Farmers deliberately left the produce to rot on the trees, as other competitors will likely supply the same products to the final consumers.

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Doris recently started her position at Monro Company. The company uses the dollar-value LIFO inventory method. On her first day
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3 years ago
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3 years ago
Ivanhoe Company issued $1520000 of 6%, 5-year bonds at 95, which pay interest annually. Assuming straight-line amortization, wha
Mashutka [201]

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6 0
2 years ago
How did Selfridge’s idea of discounted merchandise affect the retail world as a whole?
bagirrra123 [75]

Answer:there’s all of them word it differently please

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Lesson two unit lab for advertising sales promotion

Profits not always the point

1) Consistent, Competitive & Profitable

2)doing good

3)finding a purpose

4. Values and purpose

5)profit is definitely an added perk, if your company is making good profits then you can offer incentives such as bonuses or other things for your employees to do their best every day.

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3. It made him popular with women shoppers when things turned violent people protected his store

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5. Sales became a worldwide tradition

5 0
2 years ago
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