464211 2017 Fall. Online M 202-301 Homework: Homework # 6 Score: 0 of 1 pt Chapt

Question

464211 2017 Fall. Online M 202-301 Homework: Homework # 6 Score: 0 of 1 pt Chapter Problem 4 colab. 240128(26 complete) Hw Score: 86 01%, 24 08 of 28 pts Question Help * ourse Home ews ssignments tudy Plan esults perfectly competitive market When the market price is $49 33 Total product Average variable total Marginal cost cost 92 0049 00 141.00 3500 4600 4200 8800 330 67 3700 6767 4 23 00 3400 570 5 18403320 51.60 15.33 3400 49 33 2701 .. 24 99 . 30 00 . 37 98 5500 Multimedia Library Type here to

Explanation / Answer

Firm will produce 5 quanfity because profit is maximised or producer is at equilibrium where MR=MC

Thus MC for 6th unit is 55>49.33. Thus there is margibal loss from 6unit. Thus firm will produce Q=5crates of apple

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