Suppose a Farmer Is a Price Taker for Soybean Sales

question 27

Multiple Choice

Suppose a farmer is a price taker for soybean sales with cost functions given by ?
TC = .1q² + 2q + 30
MC = .2q + 2
If P = 6 ,the profit-maximizing level of output is

• A)10
• B)20
• C)40
• D)80

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Definitions:

Governmental Influence

The extent to which government actions or policies affect the decisions and actions of individuals or organizations.

Compete

To strive against others for the purpose of achieving something, such as a prize or a higher level of achievement, often under conditions of equal footing and rules.

Partnership

A legal form of business operation between two or more individuals who share management and profits.

Protect

To defend or safeguard from harm, danger, or loss, often pertaining to individuals, groups, or entities.