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Farmer Jones grows apples. The average total cost and marginal cost of growing apples for an individual farmer are illustrated in the graph. Assume the
Farmer Jones grows apples. The average total cost and marginal cost of growing apples for an individual farmer are illustrated in the graph. Assume the market for apples is perfectly competitive. According to the graph, farmer Jones will earn prot (positive economic prot as opposed to losses) at any market price above $- per box. (Enter a numeric response using an integer.) Assume that the market price specically is $26 per box. If farmer Jones produces the prot maximizing quantity, what will be her prot? $ To more easily identify the price and quantity, click on the graph, and then aaiust the slider to change the price and quantity. Each increment will increase the price by $2. Price and cost (dollars per box) 4; O w 07 c) N N 0 N b N O G7 N m 4; 0 10 20 30 40 50 60 70 80 90 100 Quantity of Apples (boxes per month) 9,0
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