Posted: 4/21/2011 12:10:01 PM EDT
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I am trying to figure out how to make two options equal the same net return.
I've got a question that is referring to crop yields, variable costs and net return per acre. I've got this CommodityNet ReturnLabor CostsNR Above Labor Potatoes$670.00100$570.00 Cucumbers$300.00100$200.00 Farmer's Mkt Potatoes$670.00400$270.00 Farmer's Mkt Cucumbers$300.00400-$100.00 Assuming the same input levels and prices used in Question 4, what price in the Farmer’s Market for potatoes is needed to generate the same net return above labor as can be obtained from contracting potatoes? The input level for potatoes is 26.02, and the cucumbers are 12.86 inputs per acre. Now I know that there is a difference of $300 between the labor the contract potatoes and farmers market. I've got within one dollar on the NR Above Labor but I can't get them to come out the same. Any ideas, I know the answer is simple, but for the life of me I can't figure out how to get the NR above labor to comeout the same. The only thing that needs changed for both commodities is a price increase, but what I am trying to find is what that price needs to be. |
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I cant figure out the table. Reformat it with spaces or use the "code" tag.
It is simple algebra, not even calculus, but I cant read the numbers so I cant help other than say if you make it readable, you'd get a better response. Until then, the answer is clearly 2. |
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Quoted:
How's this look? Commodity Net Return Labor Costs NR Above Labor Potatoes $670.00 100 $570.00 Cucumbers $300.00 100 $200.00 F.M Potatoes $670.00 400 $270.00 F.M. Cukes $300.00 400 $100.00 What's the context of the farmer market produce versus the non farmer market produce ? |