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There are 300 purely competitive farms in the local dairy market. Of the 300 dairy farms, 298 have a cost structure that generates profits of $24 for every $300 invested. Instructions: Enter your answers as whole numbers. a. What is the percentage rate of return for these 298 dairies

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Answer:

8.00%

Explanation:

The return of the 298 diaries can be computed as the profit generated divided by the amount invested initially.

percentage rate of return=profit generated/amount invested

profit generated is $24

amount invested is $300

percentage rate of return=$24/$300

percentage rate of return=8.00%

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