Farmer Brown grows peaches in Georgia. Suppose the market for peaches is perfectly competitive and that the market price for a box of peaches is $28 per box.Farmer Brown's marginal cost of production is illustrated in the table.Market Price(per box)$28Вохes ofMarginalCost (MC)Peaches288.002284.0032812.0042824.0052848.002872.00What price will farmer Brown charge when maximizing profit?Farmer Brown will charge a price of $ per box of peaches. (Enter your response as an integer.)What is farmer Brown's profit-maximizing level of output?Farmer Brown maximizes profit when producingO boxes of peaches. (Enter your response as an integer.)

Farmer Brown grows peaches in Georgia. Suppose the market for peaches is perfectly competitive and that the market price for a box of peaches is $28 per box. Farmer Brown's marginal cost of production is illustrated in the table. Boxes of Peaches Market Price (per box) $28 28 Marginal Cost (MC) 1 8.00 2 28 4.00 3 28 12.00 4 28 24.00 28 48.00 28 72.00 What price will farmer Brown charge when maximizing profit? Farmer Brown will charge a price of $ per box of peaches. (Enter your response as an integer.) What is farmer Brown's profit-maximizing level of output? Farmer Brown maximizes profit when producing boxes of peaches. (Enter your response as an integer.)

Farmer Brown grows peaches in Georgia. Suppose the market for peaches is perfectly competitive and that the market price for a box of peaches is $28 per box. Farmer Brown's marginal cost of production is illustrated in the table. Boxes of Peaches Market Price (per box) $28 28 Marginal Cost (MC) 1 8.00 2 28 4.00 3 28 12.00 4 28 24.00 28 48.00 28 72.00 What price will farmer Brown charge when maximizing profit? Farmer Brown will charge a price of $ per box of peaches. (Enter your response as an integer.) What is farmer Brown's profit-maximizing level of output? Farmer Brown maximizes profit when producing boxes of peaches. (Enter your response as an integer.)

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter8: Production And Costs

Section: Chapter Questions

Problem 15QP

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