Farmer Brown grows peaches. The average total cost and marginal cost of growing peaches for an individual farmer are illustrated in the graph to the right. Assume the market for peaches is perfectly competitive and that the market price is $38 per box. Also assume that farmer Brown is producing the amount of peaches that maximizes profits. Use the rectangle drawing tool to shade in farmer Brown's profit. Properly label this shaded area. Carefully follow the instructions above, and only draw the required objects. Price and cost (dollars per box) 48- 44- MG 40- 36 ATC Price 32- 28- 24- 20- 16- 12- 8- 4 0 10 20 30 40 50 60 70 80 90 100 Quantity of peaches (boxes per month in 1000s

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Productive and Allocative Efficiency Analysis

Productive efficiency, also referred to as production efficiency is a term in economics describing the level at which a company is operating at its maximum capacity. Beyond this point, the entity will be unable to manufacture any additional goods without cutting down another product’s production level. This occurrence is an outcome of production happening alongside a Production Possibility Frontier (PPF).