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An acre of average farmland produces only about 400 pounds of grain am

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An acre of average farmland produces only about 400 pounds of grain am  [#permalink]

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New post 18 Oct 2019, 12:57
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An acre of average farmland produces only about 400 pounds of grain amaranth, as against 2,400 pounds per acre, or six times as much, for wheat. It follows that whenever the grain-amaranth price is projected to be more than six times the projected price of wheat, farmers wishing to maximize profits will grow grain amaranth rather than wheat.

The argument above is based on which of the following assumptions?

(A) An acre's worth of grain amaranth is no more expensive to grow and bring to market than an acre's worth of wheat.
(B) There is no crop that produces a higher yield in terms of pounds harvested per acre than wheat.
(C) By choosing which crops to grow, farmers can exert a significant influence on the prices of those crops.
(D) Farmers are no less motivated by the desire to maximize profits than are other occupational groups.
(E) Prices of grain crops can change faster than farmers can change the acreage devoted to various grain crops.

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Re: An acre of average farmland produces only about 400 pounds of grain am  [#permalink]

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New post 18 Oct 2019, 16:37
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Premise & IC; An acre of average farmland produces only about 400 pounds of grain amaranth, as against 2,400 pounds per acre, or six times as much, for wheat. It follows that whenever the grain-amaranth price is projected to be more than six times the projected price of wheat
conclusion ;farmers wishing to maximize profits will grow grain amaranth rather than wheat.

negate options
IMO A ; An acre's worth of grain amaranth is more expensive to grow and bring to market than an acre's worth of wheat.
breaks conclusion sufficient

carcass wrote:
An acre of average farmland produces only about 400 pounds of grain amaranth, as against 2,400 pounds per acre, or six times as much, for wheat. It follows that whenever the grain-amaranth price is projected to be more than six times the projected price of wheat, farmers wishing to maximize profits will grow grain amaranth rather than wheat.

The argument above is based on which of the following assumptions?

(A) An acre's worth of grain amaranth is no more expensive to grow and bring to market than an acre's worth of wheat.
(B) There is no crop that produces a higher yield in terms of pounds harvested per acre than wheat.
(C) By choosing which crops to grow, farmers can exert a significant influence on the prices of those crops.
(D) Farmers are no less motivated by the desire to maximize profits than are other occupational groups.
(E) Prices of grain crops can change faster than farmers can change the acreage devoted to various grain crops.

Kudos for the right answer and explanation
Kudo for the author of the post.
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Re: An acre of average farmland produces only about 400 pounds of grain am  [#permalink]

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New post 18 Oct 2019, 18:51
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400 per acre of amaranth versus 2400 per acre of wheat
If selling of amaranth > 6* selling price of wheat, farmers will get benefits.
What about cost of production.

Once we see profit and other cost , understand below formula.

Profit= revenue - cost
Profits occurs if revenue is greater than cost.
Here we have to compare the cost of production.
Option A says that total cost of wheat is no greater than that of amaranth.

A is correct.
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Re: An acre of average farmland produces only about 400 pounds of grain am   [#permalink] 18 Oct 2019, 18:51
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