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Use the following to answer questions 1-3: Table: Lilly's Apple Orchard Quantity of Apples (bushels) VC $ 0 40 80 130 190 260 340 430
Use the following to answer questions 1-3: Table: Lilly's Apple Orchard Quantity of Apples (bushels) VC $ 0 40 80 130 190 260 340 430 1. (Table: Lilly's Apple Orchard) Look at the table Lilly's Apple Orchard. Lilly is the price-taking owner of an apple orchard; the orchard's variable costs are given in the table. Her orchard has fixed costs of $30. What is the shutdown price for Lilly in the short run (round to the nearest dollar)? A) $15 B) $40 $27 D) $49
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