Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Blueberry bushes can be produced at a constant marginal cost of $10 per bush. there are different types, that grow to different heights. Type 1

Blueberry bushes can be produced at a constant marginal cost of $10 per bush. there are different types, that grow to different heights. Type 1 which grows up to 1 meter high is priced at $20 per plant, and type 2 which grows to 50 cm in heightis priced at $30 per plant. What are the Lerner indices for these two plants?

Select one:

Both equal one.

2 and 3, respectively

1 and 2, respectively

0.5 and 0.67, respectively

2.

image text in transcribedimage text in transcribedimage text in transcribed
\f5/0 AC MC MR Quantity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mining And The State In Brazilian Development

Authors: Gail D Triner

1st Edition

1317323580, 9781317323587

More Books

Students also viewed these Economics questions