Author Question: The Optimal Output RuleSunny sells soybeans in a perfectly competitive market. Her output per day ... (Read 130 times)

haydenjmcm · **on:** Nov 23, 2022

The Optimal Output Rule

Sunny sells soybeans in a perfectly competitive market. Her output per day (in bushels of soybeans) and her total cost is displayed in the table.

Output per day	Total Cost
0	$6
1	$29
2	$48
3	$69
4	$105
5	$149

Assume that the market price is $44 for a bushel of soybeans. What are Sunny's fixed costs? How many bushels of soybeans will she produce? What are her average variable costs? Average fixed costs?
Please round your final answer to two decimal places.
◦ $6, 5, $28.60, $1.20
◦ $23, 5, $28.60, $4.60
◦ $23, 2, $21.00, $11.50
◦ $6, 2, $21.00, $3.00

ALuthy · **Reply #1 on:** Nov 23, 2022

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