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A. Determine how many pounds of salmon the farm sold in 2009. Then calculate the difference between dollars earned from sales in 2009 and dollars earned from sales in 2007. Round your figures to the nearest cent. I got $1.69 per pound
B. Calculate the minimum number of pounds of salmon the farm would need to sell at 2007 prices to match its 2009 earnings. Round your answer to the nearest pound. Explain how government subsidies could help the farm become more profitable.
I need help with b through d
Can you help me
If the 2007 amount of fish is 15,000,000 pounds, then decreasing 4% per year the 2009 amount would be 13,824,000 In part B it asks to calculate the 2009 figure but isn't that figure already determined by the wording of the problem? That's a strangely worded problem.
I already know the pounds for 2009. I
but I am having trouble with b
I think it is asking how many pounds that will have to be sold in 2007 to reach the price of 2009
Well, that's as far as I can go. Guess you'll need someone else to help. Good luck :-)
Can ask you someone for me
Part A. Sales: 2007 15,000,000 lb 2008 15,000,000 lb(0.96) = 14,400,000 lb 2009 14,400,000 lb(0.96) = 13,824,000 lb Price: 2007 $1.50/lb 2008 $1.50/lb * 1.06 = $1.59/lb 2009 $1.59/lb * 1.06 = $1.69/lb Dollars earned in 2007: 15,000,000 lb * $1.50/lb = $22,500,000 Dollars earned in 2009: 13,824,000 lb * $1.69/lb = $23,362,560 Difference: $23,362,560 - $22,500,000 = $862,560
Part B. $23,362,560/(1.50/lb) = 15,575,040 lb
Thank you so much