Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. If this farmer produces the profit-maximizing level of soybeans when the market price is $8 per bushel, then her total cost would be
A. $1,200.
B. $2,800.
C. $5,600.
D. $8,400.
Answer: C
You might also like to view...
Suppose two workers can harvest $46 and three workers can harvest $60 worth of apples per day. On the basis of this information we can say that the
A. marginal revenue product of the third worker is $14. B. marginal product of each of the first two workers is 23. C. marginal revenue product of each of the first two workers is $23. D. third worker should not be hired.
In the ultimatum game:
A. is a multi-stage game where one player (the proposal) offers to give the second player (the recipient) some share of a fixed prize; the recipient then decides whether to accept or reject the proposal. B. is a single-stage game where one player (the proposal) offers to give the second player (the recipient) some share of a fixed prize; the recipient then decides whether to accept or reject the proposal. C. is a multi-stage game where one player (the proposal) divides a fixed prize between himself and another player (the recipient) who is an passive participant. D. is a single-stage game where one player (the proposal) divides a fixed prize between himself and another player (the recipient) who is an passive participant.
Pricing and output determination under an oligopoly is more complicated than pricing and output determinations in other industries. The primary reason for the complication is the:
a. fewness of firms. b. brand loyalty of consumers. c. powerful effect of advertising. d. variability of concentration ratios. e. mutual interdependence of firms.
The following table provides information about production at the XYZ-TV Company. Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000 How many workers will XYZ-TV Company hire if the going wage for TV production workers is $34,000?
A. 0 B. 1 C. 3 D. 2