Philo t. farmsworth is a corn farmer with a 40-acre tract of land. each acre can produce 100 bushels of corn. the cost of planting the tract in corn is $20,000, and the cost of harvesting the corn is $10,000. in may, when corn is selling for $10 per bushel, philo plants his crop. in september the price of corn has fallen to $2 per bushel. what should philo do? explain, assuming that there are no costs involved with bringing the corn to market to sell.

Philo should sell.

Explanation:

If price falls $2, the final price would be $8. So Philo's income will be:

40 acre x 100 bushel x $8 = $32.000

And costs will be:

Planting cost = $20.000

Harvesting cost = $10.000

Total cost = $30.000

$32.000 - $30.000 = $2.000

So Philo's earning will be $2.000

it's actually a very difficult task, due to not many people can make 2 million dollars in 2 years. besides that, to the not-so-realistic ideas, you can create a business. it could be practically anything, but make it into a business that isn't that known yet, you get me? also, lets not forget about stock market. that's where all the good stuff happens. use investments at the beginning and begin to raise up your business or whatever you're going to do. as this is a very non-realistic idea, it's still worth the shot!