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supersour supersour
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A year ago
Effect of Changes in Fixed Costs

Liban's Lemons sells in a perfectly competitive market. Output per day (in pounds of lemons) and total cost is displayed in the table.

Output per dayTotal Cost
0$1.40​
1$3.05​
2$4.20​
3$5.85​
4$7.70​
5$10.25​
Assume that the company maximizes profit by producing 4 pounds of lemons a day. What is the market price?
If fixed costs increase to $2.15, profit-maximizing output will ________ (increase/decrease/stay the same).

▸ $7.70, decrease

▸ $1.85, decrease

▸ $7.70, increase

▸ $1.85, stay the same
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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crusherpsgcrusherpsg
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A year ago
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supersour Author
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A year ago
Correct Slight Smile TY
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linlinlin
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