Due to a drought in Georgia, the market price for peanuts rises by 20% nationwide. If the price elasticity of demand for peanuts is 0.8, what would happen to total revenue for peanut farmers who were not affected by the drought?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Due to a drought in Georgia, the market price for peanuts rises by 20% nationwide. If the price elasticity of demand for peanuts is 0.8, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Angela is tired of her boss as well as corporate america in general. she decides she would like to start a business where no one tells her what to do, and she can always make the decisions. the best form of business for angela is a (n)
Answers (1)
Mike Barr was an outstanding football player in college and expects to be drafted by the NFL in the first few rounds. Mike has let it be known that he would prefer to sign with a club located in Florida, Texas, or Washington.
Answers (1)
The Loann Le Milling Company is going to purchase a new piece of testing equipment for $28,000 and a new machine for $53,000. The equipment falls in the three-year property class, and the machine is in the five-year class.
Answers (1)
At Lone Star Construction, accident rates have been high over the last six months, so the owners are providing a training program to employees.
Answers (1)
Wells Company reports the following sales forecast: September, $55,000; October, $66,000; and November, $80,000. All sales are on account.
Answers (1)
New Questions in Business
Osborn Manufacturing uses a predetermined overhead rate of $19.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $256,080 of total manufacturing overhead for an estimated activity level of 13,200 direct
Answers (1)
A corporation has 44,904 shares of $26 par value stock outstanding that has a current market value of $238 per share. If the corporation issues a 5-for-1 stock split, determine the number of shares outstanding. Select the correct answer.
Answers (1)
A tire manufacturer produces 400 tires valued at $20 each. Three hundred tires are sold to a tire shop, which then sells them to households for $50 each. The remaining tires are unsold and are added to the tire manufacturer’s inventory.
Answers (1)
Cunningham, Inc. sells MP3 players for $60 each. Variable costs are $40 per unit, andfixed costs total $60,000. How many MP3 players must Cunningham sell to earn netincome of $140,000?
Answers (1)
Calculate the accounting profit or loss as well as the economic profit or loss in each of the following situations: a. A firm with total revenues of $150 million, explicit costs of $90 million, and implicit costs of $40 million b.
Answers (1)