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 profit-maximizing quantity for apple growers to produce? 75 boxes. (Enter your response as an integer.) MC 32 At this level of output, profit will be S 900. (Enter your response rounded to the nearest dollar.) 24- Apple growers will earn positive economic profit in the short run at any market price above $ place.) per box. (Enter your response rounded to one decimal ATC 16- 12- 40 50 Bo Output (boxes of apples per day) 30 70 a0 90 100 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 profit-maximizing quantity for apple growers to produce? 75 boxes. (Enter your response as an integer.) MC 32 At this level of output, profit will be S 900. (Enter your response rounded to the nearest dollar.) 24- Apple growers will earn positive economic profit in the short run at any market price above $ place.) per box. (Enter your response rounded to one decimal ATC 16- 12- 40 50 Bo Output (boxes of apples per day) 30 70 a0 90 100 Price (dollars per box)
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter5: Investment Decisions: Look Ahead And Reason Back
Section: Chapter Questions
Problem 5.6IP
Related questions
Question
![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 profit-maximizing quantity for apple growers to produce? 75 boxes. (Enter your
response as an integer.)
32
MC
28
At this level of output, profit will be S 900. (Enter your response rounded to the nearest dollar.)
Apple growers will earn positive economic profit in the short run at any market price above $
per box. (Enter your response rounded to one decimal
20-
place.)
ATO
12-
20 30 40 so 80 70 ao 90 100
Output (boxes of apples per day)
(xoq jəd sejop) so](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb0c927d2-936f-4e9e-8f76-c0397d54ee69%2F978add73-0601-40d6-9950-d7f900a05311%2Fifa3v45_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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 profit-maximizing quantity for apple growers to produce? 75 boxes. (Enter your
response as an integer.)
32
MC
28
At this level of output, profit will be S 900. (Enter your response rounded to the nearest dollar.)
Apple growers will earn positive economic profit in the short run at any market price above $
per box. (Enter your response rounded to one decimal
20-
place.)
ATO
12-
20 30 40 so 80 70 ao 90 100
Output (boxes of apples per day)
(xoq jəd sejop) so
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