1. A cranberry farmer operates in a competitive market with a price of $30 per barrel of cranberries. When the farmer produces 110 barrels, the marginal cost is $28. To maximize profit the farmer should _________.

a.increase the quantity of cranberries produced.

b.continue producing the same amount of cranberries.

c.decrease the quantity of cranberries produced.

d.raise the price of cranberries.

2.

2.

Use the graph to mower the question. What the amount of the prot or loss for this competitive rm? Price ATC