B. Now assume that the olive grove sells its product in perfect competition at a market price of $0.40 per pound. Using the principles described in the reading, the protmaximizing quantity is and the economic proti'loss is $ uan E E E 10000 $1.20 40000 .40 90,000 .24 130,000 .30 160,000 .40 180,000 .60 192,000 1.00 198,000 2.00 200,000 5.00 C. Since the grove is making an economic loss, should it continue to produce in the shortrun or should it shut down? Why? D. Now assume that the company sells its product in perfect competition at a market price of $0.30 per pound. Using the principles described in the reading, the profitmaximizing quantity is and the economic prot is $