Quick Finance question (fill in the blank)

timer Asked: Jan 22nd, 2016

Question description

Suppose the current market price of corn is $3.01 per bushel. Your form has a technology that can convert 1 bushel of corn to 3 gallons of ethanol. If the cost of conversion is $1.92 per bushel, at what market price of ethanol does conversion become attractive?

The price at which the conversion becomes attractive is $________ per gallon (round to the nearest cent)

Tutor Answer

(Top Tutor) Studypool Tutor
School: UT Austin
Studypool has helped 1,244,100 students
flag Report DMCA
Similar Questions
Hot Questions
Related Tags

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors