The farmer produces 119 bushels of wheat at a total cost of $3 per bushel. He sells all of the wheat to Firm F for $5 per bushel. Firm F produces 51 pounds of flour from the wheat at a total cost of $6 per pound (including the amount paid to the farmer for the wheat). Firm F sells 45 pounds of flour to consumers for $10 per pound. There are no other firms in this simple economy. In total, how much profit do the farmer and Firm F earn? Enter a whole number with no dollar sign.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The farmer produces 119 bushels of wheat at a total cost of $3 per bushel. He sells all of the wheat to Firm F for $5 per bushel. Firm F ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A demand curve reflects each of the following except the a. highest price buyers are willing to pay for each quantity. b. willingness to pay of all buyers in the market. c. ability of buyers to obtain the quantity they desire. d.
Answers (1)
When presenting oneself on paper, what is essential to include?
Answers (1)
A producer of camping gear such as tents, sleeping bags, and camp stoves has identified its target market as outdoor adventurers or enthusiasts. which type of variable does this reflect in segmenting the market?
Answers (1)
On January 1, Year 3, Wayfarer Co.'s assets were $330,000 and its stockholders' equity was $146,000. During the year, assets increased $18,000 and liabilities decreased $16,000.
Answers (2)
Which of these is an advantage unique to checking accounts? Checking accounts enable the transfer of money electronically. Checking accounts allow used checks to act as receipts. Checking accounts use debit cards for easy access to money.
Answers (1)
New Questions in Business
Under the mudarabah banking system, when an Islamic bank lends money to a business Multiple Choice it charges that business interest on the loan. the business needs to pay back the loan with an additional markup.
Answers (1)
A company's bonds have a 10-year maturity, a 6% coupon paid semi-annually, and a par value of $1,000. The yield to maturity is quoted as 8% in the financial press. What is the bond's price?
Answers (1)
Buckman Company uses the weighted average method for process costing. The cost per equivalent unit for direct materials is $5.00. The cost per equivalent unit for conversion costs is $3.00. The company completed and transferred out is 40,000 units.
Answers (1)
Which of the following transactions would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting? A. Paying off loans B. Purchasing inventory on account C. Collecting customer payments D. Borrowing money
Answers (2)
Under ASC 606, the transaction price generally should be adjusted for the effect of the time value of money when A. A royalty contract with a distribution in which the consideration to be received depends on sales to end customers. B.
Answers (1)