The farmer produces 119 bushels of wheat at a total cost of $3 per bushel. he sells all of the wheat to firm f for $5 per bushel. firm f produces 51 pounds of flour from the wheat at a total cost of $6 per pound (including the amount paid to the farmer for the wheat). firm f sells 45 pounds of flour to consumers for $10 per pound. there are no other firms in this simple economy. in total, how much profit do the farmer and firm f earn? enter a whole number with no dollar sign.

Explanation:

Farmer:

Total cost of production of farmer = number of bushel × cost of per bushel

                                        = 119 × $3

                                        = $357

Total revenue of farmer = price × quantity sold

                                        = $5 × 119

                                        = $595

Total profit of farmer = Total revenue - Total cost

                                   = 595 - 357

                                   = 238

Firm F:

Total cost of production of firm F = pounds of flour × cost of per pound

                                        = 51 × $6

                                        = 306

Total revenue of firm F = price × quantity sold

                                        = $10 × 45

                                        = 450

Total profit of Firm F = Total revenue - Total cost

                                   = 450 - 306

                                   = 144

the answer is: guns or butter

hope i

-lavira : )