QUESTION 7 Assume the price of corn is $4.00 per bushel, no matter how much you produce, and nitrogen costs $.70 per pound, no matter how much you buy. What is marginal input cost in this situation? O a. $0.18 b. $4.00 c. $5.71 d. $0.70

QUESTION 7 Assume the price of corn is $4.00 per bushel, no matter how much you produce, and nitrogen costs $.70 per pound, no matter how much you buy. What is marginal input cost in this situation? O a. $0.18 b. $4.00 c. $5.71 d. $0.70

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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