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 profit-maximizing quantity for apple growers to produce? 75 boxes. (Enter your response as an integer.) MC 32 At this level of output, profit will be S 900. (Enter your response rounded to the nearest dollar.) 24- Apple growers will earn positive economic profit in the short run at any market price above $ place.) per box. (Enter your response rounded to one decimal ATC 16- 12- 40 50 Bo Output (boxes of apples per day) 30 70 a0 90 100 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 profit-maximizing quantity for apple growers to produce? 75 boxes. (Enter your response as an integer.) MC 32 At this level of output, profit will be S 900. (Enter your response rounded to the nearest dollar.) 24- Apple growers will earn positive economic profit in the short run at any market price above $ place.) per box. (Enter your response rounded to one decimal ATC 16- 12- 40 50 Bo Output (boxes of apples per day) 30 70 a0 90 100 Price (dollars per box)
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section: Chapter Questions
Problem 5SQP
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