Suppose the sugar factory’s marginal cost is MCprivate = 200+q and the equilibrium price of sugar is $600 per ton. How much would the sugar factory produce in competitive market? Draw a graph and show the price, marginal cost curve, and equilibrium quantities
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1. Suppose the sugar
of sugar is $600 per ton. How much would the sugar factory produce in competitive
market? Draw a graph and show the price, marginal cost curve, and equilibrium
quantities.
Given information:
The sugar factory's marginal cost is MC = 200+q
i.e., MC = 200 + q
The equilibrium price of sugar is $600 per ton.
i.e., P = 600
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