Multiple Choice
Suppose that you own two farms on which to grow corn. Farm 2 has a lower marginal cost of producing corn than Farm 1. To lower total cost of production, you should produce:
A) all on Farm 1.
B) all on Farm 2.
C) some on Farm 1 and some on Farm 2.
D) neither on Farm 1 nor on Farm 2.
Correct Answer:
Verified
Correct Answer:
Verified
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