Use the Following to Answer Questions

question 102

Multiple Choice

Use the following to answer questions :
Figure: Cost Curves for Corn Producers
-(Figure: Cost Curves for Corn Producers) Use Figure: Cost Curves for Corn Producers.The market for corn is perfectly competitive.If the price of a kilogram of corn is $14,in the short run,the farmer will produce _____ of corn and earn an economic _____ equal to _____.

• A) 4 kilograms;profit;$0
• B) 4 kilograms;profit;just less than $80 per kilogram
• C) 2 kilograms;profit;$0
• D) 2 kilograms;loss;just more than $80 per kilogram

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Definitions:

Blood Plasma

The liquid component of blood that holds the blood cells in suspension; it is the blood's supernatant fluid, consisting mainly of water and dissolved proteins, glucose, clotting factors, mineral ions, hormones, and carbon dioxide.

Protein

Complex organic molecules made up of amino acids, essential for the structure, function, and regulation of the body's cells, tissues, and organs.

Albumin

A water-soluble protein found in blood plasma and various bodily fluids, functioning in maintaining osmotic pressure and transporting substances.

Equilibrium Constant

A dimensionless number that describes the ratio of the concentration of products to reactants at equilibrium in a reversible chemical reaction.