The figure to the right represents the cost structure for a perfectly competitive wheat farmer with her average total cost (ATC) curve and marginal cost (MC) curve. At what market price will the wheat farmer break even? The wheat farmer will break even at a price of $ per bushel. (Enter your response as an integer.) dollars per bushel) 10.00- 9.00- 8.00- 2 7.00- 6.00- 5.00- 4.00- 3.00- 2.00- 1.00- 0.00+ 0 2 MC ATC 8 10 12 14 16 18 20 Quantity (bushels of wheat in 1000s) Q Q ✔

Survey Of Economics
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Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Perefect Competition
Section: Chapter Questions
Problem 5SQP
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The figure to the right represents the cost structure for a perfectly competitive wheat farmer with her average total cost
(ATC) curve and marginal cost (MC) curve.
At what market price will the wheat farmer break even?
The wheat farmer will break even at a price of $ per bushel. (Enter your response as an integer.)
Price and cost (dollars per bushel)
10.00-
9.00-
8.00-
7.00-
6.00-
5.00-
4.00-
3.00-
2.00-
1.00-
0.00+
0
2
MC
6 8 10 12 14 16
Quantity (bushels of wheat in 1000s)
ATC
18 20
Q
✔
Transcribed Image Text:The figure to the right represents the cost structure for a perfectly competitive wheat farmer with her average total cost (ATC) curve and marginal cost (MC) curve. At what market price will the wheat farmer break even? The wheat farmer will break even at a price of $ per bushel. (Enter your response as an integer.) Price and cost (dollars per bushel) 10.00- 9.00- 8.00- 7.00- 6.00- 5.00- 4.00- 3.00- 2.00- 1.00- 0.00+ 0 2 MC 6 8 10 12 14 16 Quantity (bushels of wheat in 1000s) ATC 18 20 Q ✔
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