Use the Following to Answer Questions -(Table: Production Function for Soybeans)Use Table: Production Function for Soybeans
Use the following to answer questions :
-(Table: Production Function for Soybeans) Use Table: Production Function for Soybeans.Assume that the fixed input,capital,is 10 hectares of land and a tractor,which have a combined cost of $150 per day.The cost of labour is $100 per worker per day.The total cost of producing 70 kilograms of soybeans is:
A) $250.
B) $400.
C) $550.
D) $1 024.
Correct Answer:
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