Rhonda's Mink Farm produced 900 mink last week. The marginal cost was $18 a mink, average variable cost was $18 a mink, and the market price was $23 a mink. Did Rhonda maximize profit? If Rhonda did not maximize profit and if nothing has changed, will she increase or decrease the number of mink she produces to maximize her profit this week? profit, so if nothing changes she will OA. maximizing; not change B. not maximizing; decrease C. maximizing; increase D. maximizing; decrease OE. not maximizing; increase Rhonda is 000 the number of mink she produces to maximize her profit this week.

Rhonda's Mink Farm produced 900 mink last week. The marginal cost was $18 a mink, average variable cost was $18 a mink, and the market price was $23 a mink. Did Rhonda maximize profit? If Rhonda did not maximize profit and if nothing has changed, will she increase or decrease the number of mink she produces to maximize her profit this week? profit, so if nothing changes she will OA. maximizing; not change B. not maximizing; decrease C. maximizing; increase D. maximizing; decrease OE. not maximizing; increase Rhonda is 000 the number of mink she produces to maximize her profit this week.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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