Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Mar 2018 My Price 2.00

cost of producing wheat

A farmer is producing where MC = MR. Say that half of the cost of producing wheat is the rental cost of land (a fixed cost) and half is the cost of labor and machines (a variable cost). If the average total cost of producing wheat is $8 and the price of wheat is $6, what would you advise the farmer to do? (“Grow something else” is not allowed.)

 

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Maurice Tutor
(5)
Status NEW Posted 21 Mar 2018 06:03 AM My Price 2.00

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