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Use the Following to Answer Questions -(Table: Production Function for Soybeans)Use Table: Production Function for Soybeans

Question 66

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Use the following to answer questions :  Table: Production Function for Soybeans  Quantity  of Labour  (workers)   Quantity of  Soybeans (bushels)  00125245360470575\begin{array}{l}\text { Table: Production Function for Soybeans }\\\begin{array} { l c } \begin{array} { l } \text { Quantity } \\\text { of Labour } \\\text { (workers) }\end{array} & \begin{array} { c } \text { Quantity of } \\\text { Soybeans (bushels) }\end{array} \\\hline 0 & 0 \\1 & 25 \\2 & 45 \\3 & 60 \\4 & 70 \\5 & 75\end{array}\end{array}
-(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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