Refer to Figure 8.8. If this farmer produces the profit-maximizing level of soybeans when the market price is ________ per bushel, then her profit would be $0.

A) $2
B) $8
C) $9
D) $12

Question

Refer to Figure 8.8. If this farmer produces the profit-maximizing level of soybeans when the market price is ________ per bushel, then her profit would be $0.A)  $2B)  $8C)  $9D)  $12

Kirsten Cabatingan · Accepted Answer

Final Answer : B, Explanation :  At the profit-maximizing level of production, the farmer's total revenue equals total cost, resulting in zero profit. The correct price that leads to this scenario, based on the provided information, is $8 per bushel.

Refer to Figure 8.8. If this farmer produces the profit-maximizing level of soybeans when the market price is ________ per bushel, then her profit would be $0.

A) $2
B) $8
C) $9
D) $12

Definitions

Learning Objectives

Learning Objectives

Related questions