Use the segment centers in the table above to calculate the new ideal spots for the segments. Once you have successfully entered the correct ideal spots for Rounds 0 and 1 (open fields), the rest of the table will fill in automatically. If you have entered any answers incorrectly, a line should appear through your answer and a pop bubble will appear. Incomplete Low Tech Rnd Pfmn Size 0 4.8 15.2 1 5.3 14.7 2 5.8 14.2 3 6.3 13.7 4 6.8 13.2 5 7.3 12.7 6 7.8 12.2 7 8.3 11.7 8 8.8 11.2 High Tech Rnd Pfmn Size 0 0 Incorrect value entered 0 Incorrect value entered 1 8.1 11.9 2 3 4 5 6 7 8

One of the growers is excited by this advancement because now he can sell more crops, which he believes will increase revenue in this market. as an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market. using the midpoint method, the price elasticity of demand for soybeans between the prices of $5 and $4 per bushel is , which means demand is between these two points. therefore, you would tell the grower that his claim is because total revenue will as a result of the technological advancement.