Sarah Sandoval is a coffee farmer trying to decide how many tons of coffee to produce. She can sell each ton of coffee for $2,000. The cost of producing her first ton of coffee is $600, and the second ton costs $1,000. Similarly, each additional ton of coffee costs $400 more to produce. Assume that Sarah produces the optimal quantity of coffee. In that case, her total cost of coffee production is $

Sarah Sandoval is a coffee farmer trying to decide how many tons of coffee to produce. She can sell each ton of coffee for $2,000. The cost of producing her first ton of coffee is $600, and the second ton costs $1,000. Similarly, each additional ton of coffee costs $400 more to produce. Assume that Sarah produces the optimal quantity of coffee. In that case, her total cost of coffee production is $

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 14P

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