An Apple Farmer Must Decide How Many Apples to Harvest

question 25

Multiple Choice

An apple farmer must decide how many apples to harvest for the world apple market.He knows that there is a one-third probability that the world price will be $1, a one-third probability that it will be $1.5, and a one-third probability that it will be $2.His cost function is C(Q) = 0.01Q².The farmer's maximum expected profit is:

• A)-7.75.
• B)0.
• C)7.75.
• D)none of the statements associated with this question are correct.

---

Definitions:

Rites of Integration

Ceremonial practices within organizations that reinforce unity and a shared culture among team members.

Annual Picnics

Yearly social events often held outdoors involving a shared meal or activities, sometimes organized by workplaces or communities.

Company Functions

The operations and activities carried out by a business to achieve its objectives, such as marketing, finance, and human resources.

Organizational Stories

Narratives shared within an organization that embody its values, culture, and history, often used to socialize and instruct employees.