Answer to Question #8819 in Microeconomics for Shaminee

Question #8819
Use the following table of expected cost and revenue data for the Tipah Tomato Farm to answer this question. Tipah produces tomatoes and sell them in a competitive price-taker market.


"Output
(tons per month)" "Total Cost
RM" "Price per ton
RM"
3 2250 500
4 2500 500
5 2800 500
6 3050 500
7 3450 500
8 4000 500
9 4275 500
10 5150 500
If Tipah is a profit maximizer, how many tomatoes should she produce when the market price is RM500 per ton? [5 marks]
1
Expert's answer
2012-04-27T07:49:39-0400
The answer to the question is available in the PDF file https://www.assignmentexpert.com/https://www.assignmentexpert.com/homework-answers/economics-answer-8819.pdf

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS