Business, 22.02.2021 07:00 arielpraczko1

A production possibility frontier. A farmer can grow soybeans or corn. The farmer can grow 80 bushels of soybeans or 160 bushels of corn on each acre of land. The price of soybeans is $13.20 per bushel. The price of corn is $5.85 per bushel. a) construct this farmer's PPF for soybeans and corn in bushels, per acre.

b) What is the opportunity cost ( in dollars) per acre to grow soybeans? corn?

c) Which crop (pick only one) do you think the farmer will produce? why?

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A production possibility frontier. A farmer can grow soybeans or corn. The farmer can grow 80 bushel...

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