An 8-billion-bushel corn crop brings a price of $2.40/bushel. A commodity broker uses the rule of thumb:

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An 8-billion-bushel corn crop brings a price of $2.40/bushel. A commodity broker uses the rule of thumb: If the crop is reduced by x percent, then the price increases by 10x cents. Which crop size results in maximum revenue and what is the price per bushel? Hint: Revenue is equal to price times crop size.

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Calculus

ISBN: 9781319055844

4th Edition

Authors: Jon Rogawski, Colin Adams, Robert Franzosa

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