Solved: If the avg total cost of producing wheat is 8 and the price, Accounting Basics

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If the avg total cost of producing wheat is 8 and the price

Question - 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 avg total cost of producing wheat is $8 and the price of wheat is $6, what advice would you give to the farmer to do in the short run and the long run?

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Accounting Basics: If the avg total cost of producing wheat is 8 and the price

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