Question: Table: Labor and Output ( Table: Production Function for Soybeans ) Use Table: Production Function for Soybeans. Assume that the fixed input, capital, is 1

Table: Labor and Output
(Table: Production Function for Soybeans) Use Table: Production Function for Soybeans. Assume that the fixed input, capital, is 10 acres of land and a tractor, which have a combined cost of \(\$ 150\) per day. The cost of labor is \(\$ 100\) per worker per day. The variable cost of producing 60 bushels of soybeans is:
\(\$ 300\).
\$5.
\$100.
\$150.
Table: Labor and Output ( Table: Production

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