(Table: Production Function for Soybeans) the Table Shows a Production

question 281

Multiple Choice

(Table: Production Function for Soybeans) The table shows a production function for soybeans.Assume that the fixed input, capital, is 10 acres of land and a tractor, which have a combined cost of
$150 per day.The cost of labor is $100 per worker per day.The variable cost of producing 25 bushels of soybeans is:

• A)$50
• B)$100
• C)$150
• D)$250

---

Definitions:

Graph

A visual representation of data, showing the relationship between variables.

Unit-Profit Margin

The measure of profit derived from each unit of product sold, calculated by subtracting the cost of goods sold from the sales price per unit.

Output

The cumulative output of products or services generated by a corporation, sector, or economic system.

Graph

A visual representation of data, often showing relationships between two or more variables, typically displayed using lines, bars, or points.