If the price of catfish fell from $13 to $7 per bushel, determine the Instructions: Enter your responses as a whole number. If you are entering any ne in front of those numbers. a profit-maximizing output. bushel(s) b profit or loss per bushel. $E per bushel

If the price of catfish fell from $13 to $7 per bushel, determine the Instructions: Enter your responses as a whole number. If you are entering any ne in front of those numbers. a profit-maximizing output. bushel(s) b profit or loss per bushel. $E per bushel

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter12: Environmental Protection And Negative Externalities

Section: Chapter Questions

Problem 11SCQ: The state of Colorado requires oil and gas companies who use fracking techniques to retune the land...

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Question

Subj: ec

Number of
Bushels
(per Day)
0
1
2
345
Quantity (bushels of fish per day)
Price
$13
13
13
13
13
13
Total
Revenue
Show Transcribed Text
bushel(s)
b. profit or loss per bushel
$
per bushel
c. total profit or loss
$0
13
26
39
52
65
Total
Cost
$10
15
22
31
44
61
Total Marginal Marginal
Profit Revenue
Cost
$-10
-2
4
8
G
8
4
-
$13
13
333
13
13
13
$5
7
9
13
17
If the price of catfish fell from $13 to $7 per bushel, determine the
Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-)
in front of those numbers.
a profit-maximizing output.

Refer to the figure and table to answer three questions.
Price or Cost (dollars per bushel)
18
16
14 Price Marginal revenue
12
10
8
6
4
2
2
3
Marginal cost
7

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