Bronski Corporation manufactures two products, Simple and Complex. The following information was gathered: Simple Complex Selling price per unit $37.00 $26.00 Variable cost per unit $32.00 $22.00 Total fixed costs are $18,000. Assume demand for either product exceeds the factory's capacity. It takes one hour of production time to make Simple and two hours to make Complex. The annual capacity of the plant is 10,000 hours. How many units of Simple and Complex should Bronski Corporation produce and sell to maximize profits

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.