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Suppose Mayweather Farms has the following costs associated with apple production: q / basket TC 0 $40 1 55 2 65 3 72 4 81
Suppose Mayweather Farms has the following costs associated with apple production:
q / basket | TC |
0 | $40 |
1 | 55 |
2 | 65 |
3 | 72 |
4 | 81 |
5 | 93 |
6 | 109 |
7 | 131 |
8 | 159 |
9 | 194 |
10 | 235 |
Suppose the farm sells a basket of apples for $18. At the profit maximizing level of output, how much profit or loss is being generated?
a. 6$profit
b. 12$ profit
c. $1 loss
d. 5$ loss
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