Say half of the cost of producing wheat is rental cost of, Ask an Expert

Economics

Say 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 advise a farmer to do?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9293165

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