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Suppose a Farmer Is a Price Taker for Soybean Sales

Question 27

Multiple Choice

Suppose a farmer is a price taker for soybean sales with cost functions given by ?
TC = .1q2 + 2q + 30
MC = .2q + 2
If P = 6 ,the profit-maximizing level of output is


A) 10
B) 20
C) 40
D) 80

Correct Answer:

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