The Owner of an Orange Grove Must Decide When to Pick

question 164

Multiple Choice

The owner of an orange grove must decide when to pick one variety of oranges. She can sell them for $18 a bushel if she sells them now, with each tree yielding an average of 7 bushels. The yield increases by half a bushel per week for the next 10 weeks, but the price per bushel decreases by $0.70 per bushel each week. When should the oranges be picked for maximum return? ​​

• A) 10 weeks from now
• B) 2 weeks from now
• C) 7 weeks from now
• D) 5 weeks from now
• E) 6 weeks from now

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Definitions:

Strategic Management

The process of planning, monitoring, analyzing, and assessing the needs of an organization to achieve its goals and objectives with a long-term perspective.

Entrepreneurial Perspective

A viewpoint that emphasizes innovation, risk-taking, and the exploitation of opportunities in the creation and management of new ventures.

Anita Roddick

Founder of The Body Shop, known for her ethical approach to business and pioneering the use of environmentally friendly and cruelty-free cosmetic products.

Risk Takers

Individuals or entities that are willing to engage in actions that entail a significant chance of loss or failure in anticipation of a potential gain.