To plant and harvest 20,000 bushels of corn, Farmer Jayne incurs fixed and variable costs totaling $33,000. The current spot price of corn is $1.80 per bushel
What is the profit or loss if the spot price is $1.90 per bushel when she harvests and sells her corn?
A) $3,000 gain
B) $3,000 loss
C) $5,000 gain
D) $5,000 loss
C
Business
You might also like to view...
What is keystoning?
a. the practice of maintaining variable costs at one-half of total fixed costs b. a method used for determining the point of elasticity c. a method of changing consumers' perceptions about price d. the practice of marking up prices by 100 percent
Business
When the market growth becomes flat, we can say that this stage of the product life cycle has been reached. Identify the stage
A) introduction stage B) growth stage C) maturity stage D) decline stage
Business