Part 2: Use a grid to plot the per/lb variables of price MR, AVC, ATC, and MC fr

Question

Part 2: Use a grid to plot the per/lb variables of price MR, AVC, ATC, and MC from your table. Scale your numbers in the Y axis to accommodate the Price, MR, AVC, ATC, numbers in your table. Use the number of green houses from 1 to 8 on the X axis. Be sure to use titles for the graph, on the axis, and for the variable Lines. Check my answers.
Part III:
1. How many green houses should Alex, Lopez and Sons plant with tomatoes to maximize profits and what determines this?
2. So they try to get a price higher than $.80 per pound to improve profits? Why or why not?
3. Assume the price is $.80 per pound, should I consider closing down? Why or why not?
4. Explain which of the variables computed in the table and farted on the graph represent the supply in the man curves for the Alex Lopez & Sons company.
5. Explain what the break-even point is, and where this is for the Company. Part I. Compute the values for the blank cells. Q Expected TR MR Green- Wholesale FC VC TC S Profit or AVC ATC Per/lb. loss Per/lb. Per/lb. Per/lb. Per/lb. houses/ Market lbs. of Price/ Tomatoes Per lb. S.80 1/25,000 S. 80 50,000S.80 3/75,000S.80 4/ 100,000 .80 5/ 125,000 | 80 6/ 150,000 $.80 7/ 175,000 $.80 8/200,000 $.80 0/0 15,000 $37.000 25,000 27,000 30,000 57,000 48,000 66,000 99,000 Experience indicates that their yield is 25,000 lbs. of tomatoes per greenhouse. Therefore, for all per lb. computations, use thousands for Q in the formulas, e.g.25,000, 50,000, 75,000... etc. Ibs.-instead of 1,2,3... etc. greenhouses.

Explanation / Answer

For part 1 the answers are correct.

The blank cells will be filled in the following manner.

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