You estimate that your cattle farm will generate $1 million of profits on sales of...
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Finance
You estimate that your cattle farm will generate $1 million of profits on sales of $5.8 million under normal economic conditions and that the degree of operating leverage is 8. a. What will profits be if sales turn out to be $5.1 million? (Negative amount should be indicated by a minus sign. Round your answer to 1 decimal place.) Profits will decline by b. What if they are $6.5 million? (Round your answer to 1 decimal place.)
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