econ 2106 chapter 8 9 short run and long run cost and output decisions Consider a perfectly competitive organic apple farm where the price of…

econ 2106 chapter 8 & 9 short run and long run cost and output decisions

Consider a perfectly competitive organic apple farm where the price of bushel of apples is currently 10.00

use page 179 table 8.6 and 188 figure 9.1

Graph MC, MR, ATC curves identifying the intersection of MC and ATC

Identify total revenue, total cost and profit or loss section on the graph see p 188 figure 9.1