Illustrate analysis that farmer in the situation need to do


Problem

Robert Green repeatedly and painstakingly applied herbicides to kill weeds that would harm his beet crops in 2007. However, he planned to plant beets genetically engineered to withstand Monsanto's Roundup herbicide in 2008. Roundup destroys weeds but leaves the crop unharmed, which he believed would save him thousands of dollars in tractor fuel and labor (Andrew Pollack, "Round 2 for Biotech Beets," New York Times, November 27, 2007). This policy is risky, however. In the past when beet breeders announced they were going to use Roundup-resistant seeds, sugar-using food companies like Hershey and Mars objected, fearing consumer resistance. By 2007, though, sensing that consumer concerns have subsided, many processors have cleared their growers to plant the Roundup-resistant beets. A Kellogg spokeswoman said her company was willing to use such beets, but Hershey and Mars declined to comment. Thus, a farmer like Mr. Green faced risks by switching to Roundup Ready beets. Use a decision tree to illustrate the analysis that a farmer in this situation needs to do.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Illustrate analysis that farmer in the situation need to do
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