$ Rambutan is a fruit prized in Eastern Asia for its unique hairy look. Once peeled, it reveals a sweet, slightly sour, grape-like, gummy-tasting fruit. Shown is a graph for a perfectly or purely competitive rambutan farmer. a. This firm is incurring a firms will In the long run, this market. b. What is this firm's profit/loss? Round to the nearest penny. c. If the market price fell to $9.51, then Price ($), cost of bushel MC 12.11 10.11 OMR ATC B 9.51 C 0 5.4 Quantity of rambutan (bushels)

$ Rambutan is a fruit prized in Eastern Asia for its unique hairy look. Once peeled, it reveals a sweet, slightly sour, grape-like, gummy-tasting fruit. Shown is a graph for a perfectly or purely competitive rambutan farmer. a. This firm is incurring a firms will In the long run, this market. b. What is this firm's profit/loss? Round to the nearest penny. c. If the market price fell to $9.51, then Price ($), cost of bushel MC 12.11 10.11 OMR ATC B 9.51 C 0 5.4 Quantity of rambutan (bushels)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter12: Firms In Perfectly Competitive Markets

Section: Chapter Questions

Problem 12P

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Rambutan is a fruit prized in Eastern Asia for its unique hairy look. Once peeled, it reveals a sweet, slightly sour, grape-like, gummy-tasting fruit. The graph shows the average total cost, marginal revenue, and marginal cost curves of a perfectly or (purely) competitive rambutan farmer. This firm is incurring a firms will this market. In the long run, What is this firm's profit or loss, rounded to the nearest penny? If the market price fell to $9.51, the firm would Price per bushel $12.11 10.11 9.51 MR C 5.4 A MC B ATC 7 Quantity (bushels)
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O Macmillan Learning Rambutan is a fruit prized in Eastern Asia for its unique hairy look. Once peeled, it reveals a sweet, slightly sour, grape-like, gummy-tasting fruit. The graph shows the average total cost, marginal revenue, and marginal cost curves of a perfectly or (purely) competitive rambutan farmer. This firm is incurring a firms will loss $ profit What is this firm's profit or loss, rounded to the nearest penny? In the long run, If the market price fell to $9.51, the firm would incur an economic loss. shut down. earn zero economic profit. earn an economic profit. Price per bushel $12.11 10.11 9.51 MR 5.4 MC B ATC 7 Quantity (bushels)
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