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the question are asked An apple farmer in the Okanagan has approached you for advice on profit maximization. The farm is a price taker in

the question are asked

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An apple farmer in the Okanagan has approached you for advice on profit maximization. The farm is a price taker in the market and receives $200 per ton. The table below contains cost and revenue data for the farm. Quantity (tons) Total cost (dollars) Total revenue (dollars) 100 200 2 250 400 3 500 600 4 850 800 5 1,300 1,000 6 1,850 1,200 A) Calculate the profit maximizing level of output. (2 marks). B) Calculate total profit at the profit maximizing level of output. (2 marks). Type your answers for A), and B) in the space below

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