Number of Fruit Baskets TFC TVC TC MC $50 $0 $50 1 50 10 60 10 2 50 15 65 50 21 71 6 4 50 31 81 10 50 46 96 15 50 68 118 22 Refer to Table 8.7. Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $22. To maximize profits, Exotic Fruit should sell fruit baskets and their profit is
Number of Fruit Baskets TFC TVC TC MC $50 $0 $50 1 50 10 60 10 2 50 15 65 50 21 71 6 4 50 31 81 10 50 46 96 15 50 68 118 22 Refer to Table 8.7. Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $22. To maximize profits, Exotic Fruit should sell fruit baskets and their profit is
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Number of
Fruit Baskets
TFC
TVC
TC
MC
$50
$0
$50
1
50
10
60
10
2
50
15
65
3
50
21
71
6
4
50
31
81
10
50
46
96
15
50
68
118
22
Refer to Table 8.7. Assume that fruit baskets are sold
in a perfectly competitive market. The market price
of a fruit basket is $22. To maximize profits, Exotic
Fruit should sell
fruit baskets and their
profit is](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb9f122c2-ca99-462a-8a24-361e73fcbe65%2F4f15b0b0-7539-4e3c-acf8-639dd4efe295%2Fqsl06p6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Number of
Fruit Baskets
TFC
TVC
TC
MC
$50
$0
$50
1
50
10
60
10
2
50
15
65
3
50
21
71
6
4
50
31
81
10
50
46
96
15
50
68
118
22
Refer to Table 8.7. Assume that fruit baskets are sold
in a perfectly competitive market. The market price
of a fruit basket is $22. To maximize profits, Exotic
Fruit should sell
fruit baskets and their
profit is
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