The Inverse Demand Function for Soybeans Is P = 30,000

question 43

Multiple Choice

The inverse demand function for soybeans is p = 30,000 - 6q. Total revenue in this market will be maximized when the quantity of soybeans produced is

• A) 3,611 bushels.
• B) 5,000 bushels.
• C) 1,250 bushels.
• D) 2,500 bushels.
• E) none of the above.

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