Refer to the information provided in Figure below to answer the question that follow. $4 MC 12 ATC P-MR Cost per unit 000 2 0 200 700 1,000 1,400 9 Bushels of soybeans Refer to Figure At the market price of $8 per bushel, if this farmer produces the profit-maximizing level of soybeans, the total revenue would be Select one: a. $1,200. b. $5,600 C. $2,800. d. $8,400.
Refer to the information provided in Figure below to answer the question that follow. MC 12 ATC P-MR Cost per unit 2 0 200 700 1,000 1,400 9 Bushels of soybeans Refer to Figure If the market price of soybeans falls to $8, then to maximize profits this farmer should produce Select one: a. 200 bushels of soybeans. o b. 1,000 bushels of soybeans. c. a level of output that is indeterminate from this information. d. 700 bushels of soybeans.
Refer to the information provided in Figure below to answer the question(s) that follow. Number of lawns mowed per day 00 3 0 12 Number of employees Figure lawns Refer to Figure The marginal product of the second worker is mowed Select one: o a. 11 b. 5 c. 8 O o d. 3
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