Figure: Cost Curves for Corn Producers
(Figure: Cost Curves for Corn Producers) Look at the figure Cost Curves for Corn Producers.The market for corn is perfectly competitive, and an individual corn farmer faces the cost curves shown in the figure.If the price of a bushel of corn in the market is $4, then the farmer will produce ________ of corn and earn an economic ________ equal to _.
A.0 bushels; loss; average fixed costs
B.0 bushels; loss; total fixed costs
C.3 bushels; loss; $30 per bushel
D.3 bushels; profit; $20 per bushel

Question

Figure: Cost Curves for Corn Producers
   (Figure: Cost Curves for Corn Producers) Look at the figure Cost Curves for Corn Producers.The market for corn is perfectly competitive, and an individual corn farmer faces the cost curves shown in the figure.If the price of a bushel of corn in the market is $4, then the farmer will produce ________ of corn and earn an economic ________ equal to _. 
A.0 bushels; loss; average fixed costs
B.0 bushels; loss; total fixed costs
C.3 bushels; loss; $30 per bushel
D.3 bushels; profit; $20 per bushel

Quizplus · Accepted Answer

The Answer of Figure: Cost Curves for Corn Producers
   (Figure: Cost Curves for Corn Producers) Look at the figure Cost Curves for Corn Producers.The market for corn is perfectly competitive, and an individual corn farmer faces the cost curves shown in the figure.If the price of a bushel of corn in the market is $4, then the farmer will produce ________ of corn and earn an economic ________ equal to _. 
A.0 bushels; loss; average fixed costs
B.0 bushels; loss; total fixed costs
C.3 bushels; loss; $30 per bushel
D.3 bushels; profit; $20 per bushel