Refer to the information provided in Figure 8.8 bele to answer the questis that MC Coper...

 

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Refer to the information provided in Figure 8.8 bele to answer the questis that MC Coper 12 ATC P-MR 200 700 1000 1400 Bushels of soybeans 283 Figure 8.8 26) Refer to Figure 8.8. This farmer's profit-maximizing level of output is A) 200 B) 700 1,000 units of output Dy 1,400 261 27) Refer to Figure 8.8. If this farmer is producing the profit-maximizing level of output, her profit is A) $0. B) $2,800. C) $3,000. D) $12,000. 28) Refer to Figure 8.8. What is the total cost of producing the profit maximizing level of output? A) $9 B) $1,000 C) $5,600 D) $9,000 29) Refer to Figure 8.8. If the market price of soybeans falls to 58, then to maximize profits this farmer should produce A) 200 bushels of soybeans. B) 700 bushels of soybeans. C) 1,000 bushels of soybeans. D) a level of output that is indeterminate from this information. 0) 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. B D) $8,000. 25 Refer to the information provided in Figure 8.8 bele to answer the questis that MC Coper 12 ATC P-MR 200 700 1000 1400 Bushels of soybeans 283 Figure 8.8 26) Refer to Figure 8.8. This farmer's profit-maximizing level of output is A) 200 B) 700 1,000 units of output Dy 1,400 261 27) Refer to Figure 8.8. If this farmer is producing the profit-maximizing level of output, her profit is A) $0. B) $2,800. C) $3,000. D) $12,000. 28) Refer to Figure 8.8. What is the total cost of producing the profit maximizing level of output? A) $9 B) $1,000 C) $5,600 D) $9,000 29) Refer to Figure 8.8. If the market price of soybeans falls to 58, then to maximize profits this farmer should produce A) 200 bushels of soybeans. B) 700 bushels of soybeans. C) 1,000 bushels of soybeans. D) a level of output that is indeterminate from this information. 0) 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. B D) $8,000. 25

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