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Use the following to answer questions: Use the following to answer questions:   -(Table: Production Function for Soybeans)  Look at the table 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 total cost of producing 70 bushels of soybeans is: A)  $250. B)  $400. C)  $550. D)  $1,024.
-(Table: Production Function for Soybeans) Look at the table 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 total cost of producing 70 bushels of soybeans is:


A) $250.
B) $400.
C) $550.
D) $1,024.

Correct Answer:

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