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The Inverse Demand Function for Soybeans Is P = 30,000

Question 43

Multiple Choice

The inverse demand function for soybeans is p = 30,000 - 6q. Total revenue in this market will be maximized when the quantity of soybeans produced is

A) 3,611 bushels.
B) 5,000 bushels.
C) 1,250 bushels.
D) 2,500 bushels.
E) none of the above.

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