Answer
The perfectly competitive firm produces at MC=P
at MC=P, the quantity is 75 boxes
ATC=$22
Profit=(P-ATC)*Q=(34-22)*75=900
The profit is $900
The Apple growers can earn profit price above min(ATC) and the
minimum average total cost is $20=price
Suppose the market for apples is perfectly competitive. The short-run average total cost and marginal cost...
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