Question

Click on the icon to read the news cip, then complete the Price and coet (dollans per galon) following steps. As a result of the drop in Canadian production, the price of maple synup The graph shows the revenue and cost curves for an individual ATC producer in the maple syrup industry Draw the marginal revenue curve if the price of maple syrup rises to $40 a gallon. Label it MR1 MPo Draw a point to show the new equilibrium quantity and equi brium price. Quantty housinds of galore par yar Draw a shape that represents the economic profit or economic loss. Label it. >>>Draw only the objects specified in the question.

Answer 1

1) $ 35 is the equilibrium price because MR = MC.

Price and coet (dollans per galon) MC a. ATC MR1 MPo antty housndsgalor par year

New equilibrium price is $ 40 and equilibrium quantity is 600 thousands of gallons.