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The following table presents the expected costs, revenue, and profit schedules for the Tucker Tomato Farm. Refer to the table to answer the questions that
The following table presents the expected costs, revenue, and profit schedules for the Tucker Tomato Farm. Refer to the table to answer the questions that follow. Total Cost (5 Per Marginal Average Average Profit at $550 Profit at $500 Profit at $450 Output Tan) Cost Variable Cost Total Cost per ton per ton per ton 0 $1,000 -$1,000 -$1,000 -$1,000 $200 1 $1,200 $200 $1,200 -$650 -$700 -$750 2 $1,350 $150 $175 $675 -$250 -$350 -$450 3 $1,550 $200 $183 $517 $100 -$50 -$200 4 $1,900 $350 $225 $475 $300 $100 -$100 5 $2,300 $400 $260 $460 $450 $200 -$50 6 $2,750 $450 $292 $458 $550 $250 -$50 7 $3,250 $500 $321 $464 $600 $250 -$100 8 $3,800 $550 $350 $475 $600 $200 -$200 9 $4,400 $600 $378 $489 $550 $100 -$350 10 $5,150 $750 $415 $515 $350 -$150 -$650 In order to maximize profits, when the price of tomatoes is $550, the Tuckers will produce 7 tons of tomatoes and make a V of :l - In order to maximize oroFits. when the orice oF tomatoes is $500 the Tuckers will oroduce '7 tons of tomatoes and make a V of
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