Josel has 60 acres of land. It takes 1 acre to grow 1 bushel of corn and 4 acres to grow 1 bushel of wheat. Outside merchants buy and sell corn and wheat at prices Pc = $2 and Pw = $6, respectively. Suppose that Josel wants to consume 12 units of corn and as much wheat as possible. Then, trading with the merchants allows Josel to increase his consumption of wheat by O A. 1 bushel. O B. 2 bushels. O C. 3 bushels. O D. 4 bushels. E. None of the above. Save Answer Josel owns an energy company. He produces electricity from solar energy and wind energy. The technology is as follows Field Green Field (10 acres) Red Field (12 acres) Solar Energy 2 acres needed for each unit 3 acres needed for each unit Wind Energy 2 acres needed for each unit 1 acre needed for each unit
Josel has 60 acres of land. It takes 1 acre to grow 1 bushel of corn and 4 acres to grow 1 bushel of wheat. Outside merchants buy and sell corn and wheat at prices Pc = $2 and Pw = $6, respectively. Suppose that Josel wants to consume 12 units of corn and as much wheat as possible. Then, trading with the merchants allows Josel to increase his consumption of wheat by O A. 1 bushel. O B. 2 bushels. O C. 3 bushels. O D. 4 bushels. E. None of the above. Save Answer Josel owns an energy company. He produces electricity from solar energy and wind energy. The technology is as follows Field Green Field (10 acres) Red Field (12 acres) Solar Energy 2 acres needed for each unit 3 acres needed for each unit Wind Energy 2 acres needed for each unit 1 acre needed for each unit
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Josel has 60 acres of land. It takes 1 acre to grow 1 bushel of corn and 4 acres to grow 1 bushel
of wheat. Outside merchants buy and sell corn and wheat at prices Pc = $2 and Pw = $6,
respectively. Suppose that Josel wants to consume 12 units of corn and as much wheat as
possible. Then, trading with the merchants allows Josel to increase his consumption of wheat
by
O A. 1 bushel.
O B. 2 bushels.
O C. 3 bushels.
O D. 4 bushels.
O E. None of the above.
Save Answer
Josel owns an energy company. He produces electricity from solar energy and wind energy.
The technology is as follows
Field
Green Field (10 acres)
Red Field (12 acres)
Solar Energy
2 acres needed for each unit
3 acres needed for each unit
Wind Energy
2 acres needed for each unit
1 acre needed for each unit
Outside merchants buy and sell solar energy and wind energy at prices Ps = $2 and Pw =
$4, respectively. The value-maximizing point of production is
O A. Qs = 9 and Qw = 0.
O B. Qs = 0 and Qw = 17.
C. Qs = 5 and Qw = 12.
O D. Qs = 4 and Qw = 5.
O E. None of the above.
Expert Solution
Step 1;Answer
1..
A.1 Bushel.
2.
B.Qs=0 and Qw=17
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Solved in 2 steps
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