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QUESTION

Suppose the current market price of corn is $ 3.08 per bushel. Your firm has a technology that can convert 1 bushel of corn to 3 gallons of ethanol....

10. Suppose the current market price of corn is $ 3.08 per bushel. Your firm has a technology that can convert 1 bushel of corn to 3 gallons of ethanol. If the cost of conversion is $ 1.33 per​ bushel, at what market price of ethanol does conversion become​ attractive?

The price at which the conversion becomes attractive is ​$___ per gallon. ​(Round to the nearest​ cent.)

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