Suppose the market for apples is perfectly competitive. The short-run average total cost and marginal cost of growing apples for an individual grower are illustrated in the figure to the right. 40- 36- Assume that the market price for apples is $26.00 per box. What is the MC 32- profit-maximizing quantity for apple growers to produce? 75 boxes. 28- (Enter your response as an integer.) O 24- At this level of output, profit will be $ 1950 . (Enter your response rounded 20- to the nearest dollar.) ATO 16- 12- 8- 4- 10 20 30 40 50 60 70 80 90 100 Output (boxes of apples per day) Price (dollars per box)
Suppose the market for apples is perfectly competitive. The short-run average total cost and marginal cost of growing apples for an individual grower are illustrated in the figure to the right. 40- 36- Assume that the market price for apples is $26.00 per box. What is the MC 32- profit-maximizing quantity for apple growers to produce? 75 boxes. 28- (Enter your response as an integer.) O 24- At this level of output, profit will be $ 1950 . (Enter your response rounded 20- to the nearest dollar.) ATO 16- 12- 8- 4- 10 20 30 40 50 60 70 80 90 100 Output (boxes of apples per day) Price (dollars per box)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Firms In Competitive Markets
Section: Chapter Questions
Problem 10PA
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