Question
I am confused on the bottom portion and can't figure out exactly how to answer the questions. Thanks! Total Cost ($ Per Ton) Marginal Cost
I am confused on the bottom portion and can't figure out exactly how to answer the questions. Thanks!
Total Cost ($ Per Ton) Marginal Cost Output 1 2 3 4 5 6 7 8 9 10 $1,000 $200 $1,200 $150 $1,350 $200 $1,550 $350 $1,900 $400 $2,300 $450 $2,750 $500 $3,250 $550 $3,800 $600 $4,400 $750 $5,150 Average Variable Cost $200 $175 $183 $225 $260 $292 $321 $350 $378 $415 Average Total Cost $1,200 $675 $517 $475 $460 $458 $464 $475 $489 $515 Profit at $550 per ton -$1,000 -$650 -$250 $100 $300 $450 $550 $600 $600 $550 $350 Profit at $500 per ton -$1,000 -$700 -$350 -$50 $100 $200 $250 $250 $200 $100 -$150 Profit at $450 per ton -$1,000 -$750 -$450 -$200 -$100 -$50 -$50 -$100 -$200 -$350 -$650 In order to maximize profits, when the price of tomatoes is $550, the Tuckers will produce In order to maximize profits, when the price of tomatoes is $500 the Tuckers will produce Assuming they choose produce, when the price of tomatoes is $450 the Tuckers will produce v of $ tons of tomatoes and make a tons of tomatoes and make a tons of tomatoes and make a of of True or False: When the price of tomatoes is $450 per ton, the Tuckers would prefer to shutdown rather than produce in the short run. O True O False
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