Suppose the market for apples is perfectly competitive. The short-runaverage total cost and marginal cost of growing apples for an individualgrower are illustrated in the figure to the right.40-36-Assume that the market price for apples is $26.00 per box. What is the32-MCprofit-maximizing quantity for apple growers to produce? 75 boxes.28-(Enter your response as an integer.)24-At this level of output, profit will be $ 1950. (Enter your response roundedto the nearest dollar.)20-ATC16-12-8-4-102030405060708090100Output (boxes of apples per day)Price (dollars per box)

Here, marginal cost curve and average total cost curve of an apple grower is given.

Suppose the market for apples is perfectly competitive. The short-run average total cost and marginal cost of growing apples for an individual grower are illustrated in the figure to the right. 40- 36- Assume that the market price for apples is $26.00 per box. What is the MC 32- profit-maximizing quantity for apple growers to produce? 75 boxes. 28- (Enter your response as an integer.) O 24- At this level of output, profit will be $ 1950 . (Enter your response rounded 20- to the nearest dollar.) ATO 16- 12- 8- 4- 10 20 30 40 50 60 70 80 90 100 Output (boxes of apples per day) Price (dollars per box)

Suppose the market for apples is perfectly competitive. The short-run average total cost and marginal cost of growing apples for an individual grower are illustrated in the figure to the right. 40- 36- Assume that the market price for apples is $26.00 per box. What is the MC 32- profit-maximizing quantity for apple growers to produce? 75 boxes. 28- (Enter your response as an integer.) O 24- At this level of output, profit will be $ 1950 . (Enter your response rounded 20- to the nearest dollar.) ATO 16- 12- 8- 4- 10 20 30 40 50 60 70 80 90 100 Output (boxes of apples per day) Price (dollars per box)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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