Suppose the market for apples is perfectly competitive. The short-run average total cost and marginal cost of growing apples for an individual growerare illustrated in the figure to the right.40-36Assume 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 yourresponse as an integer.)32MC28At 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 decimal20-place.)ATO12-20 30 40 so 80 70 ao 90 100Output (boxes of apples per day)(xoq jəd sejop) so

(1) A perfectly competitive firm produces at P=MC in short run. The market price for apples is $26…

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)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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