Question: Need help ASAP! I. Problems (50 points) Assume you work as a corn policy analyst in the Economic Research Service of the U.S. Department of

Need help ASAP!

I. Problems (50 points) Assume you work as a corn policy analyst in the Economic Research Service of the U.S. Department of Agriculture. Your Branch Chief comes to you with an assignment from the Secretary of Agriculture's office. They want you to calculate the benefit of the corn program under the provisions of the 2018 Farm Bill (which are identical to the 2014 Farm Bill in these problems) for a typical corn farmer who chooses the Price Loss Coverage Program for various scenarios. Using the information for a "typical" corn farmer provided below which assumes "normal weather", calculate the various government payments the farmer would receive, the market value of his/her corn, and the total revenue for this typical corn farmer at the 5 price levels given in the table. Put your answers for this "normal weather" scenario in the table provided below. Follow the same process for each of the subsequent four scenarios. Round your answers to the nearest dollar. You can use the area beneath each table to do the needed calculations. When you are satisfied wit your answers on the worksheet, enter them into eCampus. Corn reference price $3.70/bu Corn base acreage 500 acres Corn loan rate $1.95/bu Actual corn acreage 750 acres Corn program yield 200 bu/acre Actual corn yield 225 bu/acre Scenario 1: Normal Weather Payments Price Loss Market Total Market price LDP/MLG Coverage Revenue Revenue $5.24/bu $3.33/bu $1.94/bu $1.27/bu $0.00/bu

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Lars A lot of questioning when I ask stewards to perform a task. Not enough camaraderie on the team. Some on the team don't understand that my way is the ideal way to operate. Chaima Some deckhands...

Calculate the program payments to a typical corn farmer under the current Farm Bill at various farm prices. Name: ID#: Problem Set #3 (100 Points) AGEC 429 Due Date: Umrsday, April 9, 2020 There are...

1. What internal resources does Campbell have that may give it a competitive advantage? 2. What do you think Campbell should do to counter the competition and remain in the top of the soup business?...

It is April of 2021. What should Dr. Choi do about the public policy issues and why? ID The Chinese government allegedly gives illegal (per international trade laws) subsidies to Chinese producers to...

Please analyze and contrast the Introduction and Literature Review of the articles below. Paul Krugman by Jason Briggeman30 Paul Krugman (1953-) was raised on Long Island "in a safe middle-class...

These are what my teacher expects for a strategic analysis essay: "Strategic Case Analyses - Case studies provide important windows into the real problems that firms are trying to solve. Note, since...

. It consists of fifty (50) multiple-choice questions from business law 201 Question 1 Which of the following statements is true about compensatory and punitive damages? A. Punitive damages seek to...

Use PESTEL ANALYSIS to analyze the 'BEYOND MEAT' case. What is the strategic planning process for BEYOND MEAT? Page 2 - (Whole Foods), Target Corporation, the Kroger 60., Del Taco LLIC (Del Taco),...

find three research-based advocacy letters, read, and analyze them. Once you have found how they are structured, organized, formatted and worded as well as how they use and cite sources, you will be...

Corporate Finance Course it's about Whole Foods purchase by Amazon. below are the questions need to be answered, also the documents are attached. QUESTIONS: 1.The investment thesis on AMZN has ALWAYS...

Sustainability & Corporate Social Responsibility at GE \"GE should be commended for a bold approach to climate issues. However, the company has a long way to go before it can legitimately claim to be...

Shipping Inc.'s transactions during January 2023: 1. Jan. 1 - Issued 7,500 shares of no-par common stock for $14 per share. 2. Jan. 1- Purchased a delivery van (used) for $16,000 in cash. Monthly...

a) Calculate Net Sales and Gross Profit if, Sales are $375,000, Sales Returns and Allowances are $32,000, Sales Discounts are $12,000 and Cost of Merchandise Sold is $255,000. b) Calculate Sales...

How is the fair value allocation of an intangible asset allocated to expense when the asset has no legal, regulatory, con - Multiple Croice Equaly over 2 0 years with an annual impairment review. No...

ABC Corporation currently has 20,000 shares outstanding that sell for $53 per share.Assuming no market imperfections or tax effects exist, determine the new number of sharesoutstanding after ABC has...

Calculate the amount of heat required to change a 350 grams ice from -20 degrees Celsius to 35 degrees Celsius. Cp of ice = 2100 J/kg-C Heat of fusion of ice = 3.34 x 10^5 J/kg

Compare and contrast Systems Development Life Cycle (SDLC Models). (a) Describe the 7 Steps SDLC (b) Describe a different SDLC Model (4 steps or 12 steps) (c) Compare and contrast the 7 Step Model...

For the machine element shown, locate the x, y, and z coordinates of the center of volume. 2 in. 1 in. 2 in. 3 in. 2 in. r= 1.25 in. r=1.25 in. 0.75 in. 2 in. 2 in.

The engine produces blue smoke. Name the best tool to diagnose the problem and write the procedure.

Which of the following supply chain management components people take the most effort in evaluating product quality and product cost? O A. Deliver B. Make OC. Plan D. Return O E Source Which of the...

1. To provide an understanding of how emotions are regulated by the development of relationships between actors in a communication situation.

Positive effect on trusting others, and also improvements in the final results.

1. Discuss the following statements: a) Local links generate collective behaviours. b) An unfamiliar system will be described as chaotic by the ignorant. c) When we see that something is happening,...