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Pine Knot Farms grows and sells tobacco in a perfectly-competitive industry. The figure below gives its short-run situation. Pine Knot Farms-Firm per-bushel price of tobacco,
Pine Knot Farms grows and sells tobacco in a perfectly-competitive industry. The figure below gives its short-run situation. Pine Knot Farms-Firm per-bushel price of tobacco, $ MC ATC $10 D - P- MR $8.50 D Ave 20 23 30 31 38 quantity of tobacco (in bushels) In the short run, the farm maximizes its economic profits by producing O 0 bushels of tobacco. O 23 bushels of tobacco. O 30 bushels of tobacco. O 31 bushels of tobacco
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