9 D D D D Suppose the market for peaches is perfectly competitive. The short-run average total cost and marginal cost of growing peaches for an individual grower are illustrated in the figure to the right. Assume that the market price for peaches is $6.50 per box. What is the profit-maximizing quantity for peach growers to produce? boxes. (Enter your response as an integer.) At this level of output, profit will be $. (Enter your response rounded to the nearest dollar.) Peach growers will earn positive economic profit in the short run at any market price above $ per box. (Enter your response rounded to one decimal place.) Price (dollars per box) 10 9 8 10 MC ATC 20 30 40 50 60 70 80 90 100 Output (boxes of peaches per day) Q Q
9 D D D D Suppose the market for peaches is perfectly competitive. The short-run average total cost and marginal cost of growing peaches for an individual grower are illustrated in the figure to the right. Assume that the market price for peaches is $6.50 per box. What is the profit-maximizing quantity for peach growers to produce? boxes. (Enter your response as an integer.) At this level of output, profit will be $. (Enter your response rounded to the nearest dollar.) Peach growers will earn positive economic profit in the short run at any market price above $ per box. (Enter your response rounded to one decimal place.) Price (dollars per box) 10 9 8 10 MC ATC 20 30 40 50 60 70 80 90 100 Output (boxes of peaches per day) Q Q
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter8: Perfect Competition
Section: Chapter Questions
Problem 1SCQ: Firms ill a perfectly competitive market are said to be price takers that is, once the market...
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Question
![1->
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Suppose the market for peaches is perfectly competitive. The short-run average total cost and marginal cost of
growing peaches for an individual grower are illustrated in the figure to the right.
Assume that the market price for peaches is $6.50 per box. What is the profit-maximizing quantity for
peach growers to produce? boxes. (Enter your response as an integer.)
At this level of output, profit will be $. (Enter your response rounded to the nearest dollar.)
Peach growers will earn positive economic profit in the short run at any market price above $ per box. (Enter your
response rounded to one decimal place.)
Price (dollars per box)
10-
9-
8-
7-
6-
4-
3-
2-
1
0
MC
ATC
10 20 30 40
40 50 60 70 80 90 100
Output (boxes of peaches per day)
Q
Next](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F933b2e7c-bcb1-4a47-8bd3-8f81e6e7ee8a%2F7d8de71f-a732-411d-8bd9-d69cf27494ec%2Fmoztfml_processed.png&w=3840&q=75)
Transcribed Image Text:1->
O
O
O
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Suppose the market for peaches is perfectly competitive. The short-run average total cost and marginal cost of
growing peaches for an individual grower are illustrated in the figure to the right.
Assume that the market price for peaches is $6.50 per box. What is the profit-maximizing quantity for
peach growers to produce? boxes. (Enter your response as an integer.)
At this level of output, profit will be $. (Enter your response rounded to the nearest dollar.)
Peach growers will earn positive economic profit in the short run at any market price above $ per box. (Enter your
response rounded to one decimal place.)
Price (dollars per box)
10-
9-
8-
7-
6-
4-
3-
2-
1
0
MC
ATC
10 20 30 40
40 50 60 70 80 90 100
Output (boxes of peaches per day)
Q
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