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. At the market price of $8 per bushel, if this farmer produces the profit-maximizing level of soybeans, the profit would be
A) $0.
B) $2,800.
C) $5,600.
D) $8,000.

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. At the market price of $8 per bushel, if this farmer produces the profit-maximizing level of soybeans, the profit would be
A) $0. 
B) $2,800. 
C) $5,600. 
D) $8,000.

Quizplus · Accepted Answer

At the market price of $8 per bushel, the profit-maximizing level of output is where marginal cost equals marginal revenue. If the total cost at this output level equals total revenue, the profit would be $0.

Refer to the Information Provided in Figure 8