A dairy business jointly produces butter and cheese from a "fixed" amount of milk as shown in the table below. The price of butter per pound is $0.5 and the price of cheese per pound is $2. According to the table, the value of (E) is Cheese gained (in pounds) Profit gained from increased Butter forgone (in pounds) Profit lost from decreased production of cheese production of butter (C) 1 1 1 1 1 (A) (B) 2 3 4 5 6 (D) (E)

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Chapter1: Making Economics Decisions
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A dairy business jointly produces butter and cheese from a "fixed" amount of milk as shown
in the table below. The price of butter per pound is $0.5 and the price of cheese per pound is
$2. According to the table, the value of (E) is
Cheese gained (in pounds) Profit gained from increased Butter forgone (in pounds) Profit lost from decreased
production of cheese
production of butter
(C)
1
1
1
1
1
(A)
(B)
2
3
4
5
6
(D)
(E)
Transcribed Image Text:A dairy business jointly produces butter and cheese from a "fixed" amount of milk as shown in the table below. The price of butter per pound is $0.5 and the price of cheese per pound is $2. According to the table, the value of (E) is Cheese gained (in pounds) Profit gained from increased Butter forgone (in pounds) Profit lost from decreased production of cheese production of butter (C) 1 1 1 1 1 (A) (B) 2 3 4 5 6 (D) (E)
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