What is the marginal cost per bushel of apples produced

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Reference no: EM13834445

An apple farmer has the following costs:

Bushels Total Cost

0 $200

100 $350

200 $550

300 $800

400 $1,300

500 $2,000

What is the marginal cost per bushel of apples produced?

If the market price of a bushel of apples is $5.50, and is unaffected by the farmer’s production decision, then the marginal revenue of a bushel of apples is $5.50. In that case, how many bushels of apples should the farmer produce?

If the government imposes a tax on the sellers that results in the sellers receiving $1 less per bushel sold, what amount of apples should the farmer choose to produce?

Reference no: EM13834445

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