Quantity(bushels of Total revenue Total costrutabagas)(dollars)(dollars)12110222202833030440315503460457705988080The abotable has the total revenue and total cost schedule for Omar, a perfectly competitive grower of rutabagas. Omar'sprofit is maximized when heproducesbushels of rutabagas.

In the perfectly competitive market profit is maximize at that level of output where price equal to…

Quantity (bushels of Total revenue Total cost rutabagas) (dollars) (dollars) 12 1 10 22 2 20 28 3 30 30 40 31 50 34 60 45 7 70 59 8. 80 80 The above table has the total revenue and total cost schedule for Omar, a perfectly competitive grower of rutabagas. Omar's total profit is maximized when he produces bushels of rutabagas.

Quantity (bushels of Total revenue Total cost rutabagas) (dollars) (dollars) 12 1 10 22 2 20 28 3 30 30 40 31 50 34 60 45 7 70 59 8. 80 80 The above table has the total revenue and total cost schedule for Omar, a perfectly competitive grower of rutabagas. Omar's total profit is maximized when he produces bushels of rutabagas.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Answer Question 6
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