Use the Following to Answer Questions

question 198

Multiple Choice

Use the following to answer questions:
-(Table: Production Function for Soybeans) Look at the table 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 total cost of producing 75 bushels of soybeans is:

• A) $650.
• B) $1,150.
• C) $1,225.
• D) $7,650.

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