from sprinkler to drip (C to D and E to F). Assume a f are two pairs of almond production cost curves showing technological change in Irrigation market price of $60/unit. For each set of curves, label the curves and fill in the tables that indicates the profit-maximizing level of output (Q), the marginal cost (MC), the average total cost (ATC), the total revenue (TR), the total cost (TC), the total profit (x), and, the average profit (A) for each pair of costs curves. Make sure to draw the appropriate lines in the graphs and show your calculations (show your work) below the table. Cost Curves C & D 105 100 9
from sprinkler to drip (C to D and E to F). Assume a f are two pairs of almond production cost curves showing technological change in Irrigation market price of $60/unit. For each set of curves, label the curves and fill in the tables that indicates the profit-maximizing level of output (Q), the marginal cost (MC), the average total cost (ATC), the total revenue (TR), the total cost (TC), the total profit (x), and, the average profit (A) for each pair of costs curves. Make sure to draw the appropriate lines in the graphs and show your calculations (show your work) below the table. Cost Curves C & D 105 100 9
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please follow bullet points and answer and SHOW WORK ON GRAPH, label
thank you
Transcribed Image Text:from sprinkler to drip (C to D and E to F). Assume a market price of $60/unit. For each set of
Below are two pairs of almond production cost curves showing technological change in Irrigation
curves, label the curves and fill in the tables that indicates the profit-maximizing level of output
(Q), the marginal cost (MC), the average total cost (ATC), the total revenue (TR), the total cost
to draw the appropriate lines in the graphs and show your calculations (show your work) below
(TC), the total profit (x), and, the average profit (AT) for each pair of costs curves. Make sure
the table.
Cost Curves C & D
Price
105
100
95
20
AS
80
75
70
65
60
SS
50
45
40
3.5
30
25
20
15
10
5
0
0
Cost
Curves
C
D
5
Price
10
15
D
20
25
30
Quantity
MC
ATC
35
40
TR
45
50
TC
55
2
Ал
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