Question
Dear Tutors, Please help me to solve this question. 1. Using the information below, calculate the marginal costs for a bushel of apples.Please show your
Dear Tutors,
Please help me to solve this question.
1.Using the information below, calculate the marginal costs for a bushel of apples.Please show your work, marks are assigned to the work.You will upload file showing your work to the "file response" section of the assignment.Please answer to two decimal places.
Point
Apples (bushels per day)
Lumber (metres per day)
Marginal Cost per bushel of apples
A
0
10
B
15
8
C
27
6
D
37
4
E
45
2
F
50
0
Marginal Benefit of a Bushel of Apples
Apples (bushels per day)
Lumber (metres per day)
Marginal Benefit per bushel of apples expressed in metres per day
A
0
10
1.00
B
15
8
0.75
C
27
6
0.50
D
37
4
0.25
E
45
2
0.14
F
50
0
2.Comparing the marginal costs in question 1 with the data in the table above, where should the county produce to achieve allocative efficiency? (10 marks)
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