### Illustrate what is economic profit of texas citrus company

##### Reference no: EM1357680

If the market price of oranges is \$5 per bushel, what is the optimal production quantity (measured in thousands of bushels) of Texas Citrus Company in the short run? What is the economic profit (or loss) of Texas Citrus Company in the short run? Do new orange growers
enter the market in the long run? Explain

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