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1) You are an apple farmer in a perfectly competitive market and sell apples by the bushel. The total cost and marginal cost of producing

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1) You are an apple farmer in a perfectly competitive market and sell apples by the bushel. The total cost and marginal cost of producing a bushel of apples is: TC=32+2Q+0.5Q2 MC=2+Q a) The market price of a bushel of apples is $20. How many bushels should you sell in order to maximize profit? b) At what price [per bushel) will this market be in a long run equilibrium

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