Suppose a Farmer Is a Price Taker in Soybeans with Cost

question 9

Multiple Choice

Suppose a farmer is a price taker in soybeans with cost functions given by ?
TC = .1q² + 2q + 100
MC = .2q + 2
Suppose the farmer has to purchase a license for $50 per period in order to stay in business. In this case,its marginal cost function is

• A)still MC = .2q + 2
• B)MC = .2q + 50
• C)MC = .2q + 52
• D)MC = 50

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Definitions:

Customers

Individuals or entities that purchase goods or services from another individual or business, often the focal point in marketing efforts.

Ethical Situations

Scenarios or dilemmas that require individuals or businesses to choose between actions based on moral principles.

Control Systems

Systems designed to regulate or manage the behavior of other devices or systems using control loops.

Ethical Sales Climate

An environment within a sales organization that promotes and upholds ethical behavior, integrity, and honesty among its members.