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Suppose a Farmer Is a Price Taker in Soybeans with Cost

Question 21

Multiple Choice

Suppose a farmer is a price taker in soybeans with cost functions given by Suppose a farmer is a price taker in soybeans with cost functions given by Suppose the farmer has to purchase a license for $50,the new total cost function is A) still TC = .1q<sup>2</sup> + 2 B) TC = .1q<sup>2</sup> + .2q + 80 C) TC = .1q<sup>2</sup> + 2q + 50 D) TC = 50 Suppose the farmer has to purchase a license for $50,the new total cost function is


A) still TC = .1q2 + 2
B) TC = .1q2 + .2q + 80
C) TC = .1q2 + 2q + 50
D) TC = 50

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