ECONOMICS
PROFIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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an increase in the cost of farm equipment
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a rise in demand for organic produce
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an increase in customers at the market
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a change in the market price for non-organic fruit
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a sale on organic meats at the market
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Detailed explanation-1: -Expert-Verified Answer. The factors that directly affect the Davis family’s profit for growing organiz vegetables to sell are the following two:-A rise in demand for organic produce: when the demands for a product rises, that means that the selling price for that product will rise as well.
Detailed explanation-2: -producing the next unit. The Davis family grows organic vegetables to sell at a local farmer’s market.
Detailed explanation-3: -Answer and Explanation: Producers can maximize their profit by ensuring that their incremental or marginal profit increases. The marginal profit is ascertained by deducting the marginal cost from the marginal revenue and hence, it can be increased by increasing the marginal revenue and decreasing the marginal costs.
Detailed explanation-4: -Marginal cost is the money paid for producing one more unit of a good. Marginal revenue is the money earned from selling one more unit of a good. In order to calculate marginal cost, producers must compare the difference in the cost of producing one unit to the cost of? Producing the next unit.
Detailed explanation-5: -Number of Production Units. The most basic factor affecting profit in any business is the number of production units. Production per Unit. The productivity of your land and livestock also has an impact on profit. Direct Costs. Value per Unit. Enterprise Mix. Overhead Costs.