Mike Brown produces dryland wheat in western Kansas. His actual production history (APH) yield is 100 bushels
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Mike Brown produces dryland wheat in western Kansas. His actual production history (APH) yield is 100 bushels per acre. The average futures price before planting (indemnity price) for wheat is $3.25. The average futures price at harvest is $4.00. He purchases crop insurance at the 75% coverage level. How much would his indemnity payment from the insurance company be for each policy if his actual yield is 50 bushels per acre ?
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