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(Table: Production Function for Soybeans) the Table Shows a Production

Question 281

Multiple Choice

(Table: Production Function for Soybeans) The table shows a production function for soybeans.Assume that the fixed input, capital, is 10 acres of land and a tractor, which have a combined cost of
$150 per day.The cost of labor is $100 per worker per day.The variable cost of producing 25 bushels of soybeans is:


A) $50
B) $100
C) $150
D) $250

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