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

question 34

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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A conceptual tool used in sociology to navigate and understand the social world by examining the interplay of individual actions and societal forces.

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