Use the following to answer questions:
-(Table: Soybean Cost) Look at the table Soybean Cost. What is the shut-down price for this farmer?

Name: Use the following to answer questions: -(Table: Soybean Cost) Look at the table Soybean Cost. What is the shut-down price for this farmer?
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Question

Use the following to answer questions: 
-(Table: Soybean Cost) Look at the table Soybean Cost. What is the shut-down price for this farmer?

Quizplus · Accepted Answer

The shut-down price is the minimum price at which a firm covers its variable costs. If the table indicates that the variable cost per unit is $10, then $10 is the shut-down price.

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