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. A soybean farmer's ________ level of output is 1,000 units of output.
A) loss-minimizing
B) break-even
C) profit-maximizing
D) shut-down

Question

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. A soybean farmer's ________ level of output is 1,000 units of output.
A) loss-minimizing 
B) break-even 
C) profit-maximizing 
D) shut-down

Quizplus · Accepted Answer

The profit-maximizing level of output is the point where the farmer maximizes the difference between total revenue and total costs, which typically corresponds to the output level where marginal cost equals marginal revenue, assuming the question is based on standard economic theory.

Refer to the Information Provided in Figure 8