The price of soybeans is $17 a bushel. To maximize profits, a competitive firm selling soybeans must
a. produce soybeans up to the point at which average variable cost equals $17.
b. adjust production until the marginal cost of soybeans is $17.
c. produce all the soybeans it can.
d. produce soybeans up to the point at which fixed costs are minimized and variable costs are increasing.
b. adjust production until the marginal cost of soybeans is $17.
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