Quiz: Econ 201, Fall 2021, Exam # X Homework Help - Q&A from Onl x Course Hero | Douglas Had A Full-time Job As / x + V X isbccd.instructure.com/courses/31959/quizzes/187263/take Q Fall 2021 Consider the following short run cost curves for Agatha's Apples, a producer operating in the perfectly competitive apple market. Home Announcements $7 Modules Discussions se Grades NetTutor BVC Student Resources Price of Apples (? $1 300 400 500 600 700 800 Pounds of Apples (a) If the price of an apple is $6, how many pounds does Agatha produce? |700 Pounds (b At a price of $6, what is the profit (or loss) Agatha would earn?|$1750 (c) What is the absolute lowest price a pound of Apples could reach before Agatha would shut down in the short run? | $1.50 (d) What do we expect to be the long run price of apples in this market? | $2.50 D Question 9 10 pts In a perfectly competitive market we assume the zero-profit condition in the long run equilibrium. Why is there zero-profit, why makes it occur? If we assume a firm's only goal is to make profit, why would a firm stay in a market making zero profit Edit View Insert Format Tools Table 12pt v Paragraph " B I U A v Q V T V V B BV BV S EVEVS D BBV FG Type here to search 69'F Sunny ~ ENG G 11:51 AM 11/5/2021