• 2021-04-14
    Suppose that when the price of corn is $2 per bushel, farmers can sell 10 million bushels. When the price of corn is $3 per bushel, farmers can sell 8 million bushels. Which of the following statements is true?_________.
  • The demand for corn is price inelastic, and so an increase in the price of corn will increase the total revenue of corn farmers

    举一反三

    内容

    • 0

      中国大学MOOC: Businesses are more willing to sell a product when the price _____ and less willing to sell it when prices _____.

    • 1

      At a price of $25, a store can sell 28 picture frames a day. If the price falls to $20, the store can sell 35 picture frames a day. Using the initial-value method, the price elasticity of demand is:

    • 2

      Division Big does have excess capacity to produce Product XX. The division can sell Product XX for $10 per unit outside the company. Variable costs are $6 per unit. Division Small wants to purchase Product XX from Division Big to use in Product ZZ. The selling price of Product ZZ is $25 per unit and variable costs to finish the product after the transfer are $12 per unit. An outside supplier will sell Product XX for $12. What is the minimum transfer price for Division Big?

    • 3

      When more people wish to buy than to sell, the price __________ rise.

    • 4

      Initial Investment Cash flowProject A $35 million $14 million per year for four yearsProject B $21 million $7 million per year for five years Project C $14 million $7 million per year for four years Project D $21 million $10.5 million per year for three years An investor has a budget of $35 million. He can invest in the projects shown above. If the cost of capital is 8%, what investment or investments should he make? A: Project A B: Project B C: Project B and Project C D: Project C and Project D