Price, cost of bushel $30 MC 26 22 ATC 18 14 10 Break-even price 2 1 4. 6. Quantity of tomatoes (bushels) Look at the figure Total Cost for Tomato Producers. The market for tomatoes is perfectly competitive. The market price of a bushel of tomatoes is $14. The farmer's total cost at the profit-maximizing number of bushels is: O $3.50. $14.00. $56.00. O $72.00. O None of these options is correct.
Price, cost of bushel $30 MC 26 22 ATC 18 14 10 Break-even price 2 1 4. 6. Quantity of tomatoes (bushels) Look at the figure Total Cost for Tomato Producers. The market for tomatoes is perfectly competitive. The market price of a bushel of tomatoes is $14. The farmer's total cost at the profit-maximizing number of bushels is: O $3.50. $14.00. $56.00. O $72.00. O None of these options is correct.
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 6SCQ: A firms marginal cost curve above the average variable cost curve is equal to the films individual...
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Question
![Price,
cost of
bushel
$30
MC
26
22
ATC
18
14
10
Break-even
price
2
1
4.
6.
Quantity of tomatoes (bushels)
Look at the figure Total Cost for Tomato Producers. The market for tomatoes is perfectly
competitive. The market price of a bushel of tomatoes is $14. The farmer's total cost at the
profit-maximizing number of bushels is:
O $3.50.
$14.00.
$56.00.
O $72.00.
O None of these options is correct.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd462d9d5-bfad-4192-95b3-6e9c7363dedb%2Faeaa0604-a7bb-4fd4-9d22-fa55c659510b%2F4fagu8o_processed.png&w=3840&q=75)
Transcribed Image Text:Price,
cost of
bushel
$30
MC
26
22
ATC
18
14
10
Break-even
price
2
1
4.
6.
Quantity of tomatoes (bushels)
Look at the figure Total Cost for Tomato Producers. The market for tomatoes is perfectly
competitive. The market price of a bushel of tomatoes is $14. The farmer's total cost at the
profit-maximizing number of bushels is:
O $3.50.
$14.00.
$56.00.
O $72.00.
O None of these options is correct.
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