Farmer Fran can grow soybeans and com. She can grow 50 bushels of soybeans or 100 bushels of com on an acre of her land for the same cost. The price of soybeans is $1.50 per bushel and the price of com is $0.60 per bushel. Show the benefits of specialization to Fran. What should she specialize in?

Farmer Fran can grow soybeans and com. She can grow 50 bushels of soybeans or 100 bushels of com on an acre of her land for the same cost. The price of soybeans is $1.50 per bushel and the price of com is $0.60 per bushel. Show the benefits of specialization to Fran. What should she specialize in?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter2: Economics: Eight Powerful Ideas

Section: Chapter Questions

Problem 14P

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