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Suppose the market for apples is perfectly competitive. The short-run average _e' total cost and marginal cost of growing apples for an individual grower are
Suppose the market for apples is perfectly competitive. The short-run average _e' total cost and marginal cost of growing apples for an individual grower are 10 . illustrated in the gure to the right. 9 Q Assume that the market price for apples is $7.00 per box. What is the 3 7) prot-maximizing quantity for apple growers to produce? :l boxes. (Enter your A I L) ' response as an integer.) E 7 a 6 At this level of output, prot will be $EI. (Enter your response rounded to the a E 5 A10 nearest dollar.) % '0 Apple growers will earn positive economic prot in the short run at any market 8 4 price above $D per box. (Enter your response rounded to one decimal place.) E 3 L 2 1 0 10 20 30 40 50 60 70 80 90 100 Output (boxes of apples per day)
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