Philo t. farmsworth is a corn farmer with a 40-acre tract of land. each acre can produce 100 bushels of corn. the cost of planting the tract in corn is $20,000, and the cost of harvesting the corn is $10,000. in may, when corn is selling for $10 per bushel, philo plants his crop. in september the price of corn has fallen to $2 per bushel. what should philo do? explain, assuming that there are no costs involved with bringing the corn to market to sell.
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Philo t. farmsworth is a corn farmer with a 40-acre tract of land. each acre can produce 100 bushels...
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