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C the time needed to produce an additional shed must

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Unformatted text preview: vel of production rises. C. the time needed to produce an additional shed must be taken away from increasingly important alternative tasks for the shed producer. D. None of the above. 17 8. Consider Table 4-2. It summaries the marginal revenue (MR) and marginal cost (MC) data for a harvester of apple trees. How many trees should this producer harvest in order to maximize profits? 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 MR 100 100 100 100 100 80 80 80 70 70 70 70 70 70 70 MC 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 Table 4-2 A. B. C. D. One Five Eight Fifteen. 9. Recall Table 4-2. A possible explanation for the MR profile is that A. some apple trees are more productive than others. B. some apple trees take more time to harvest than others. C. this apple producer is an insignificant player relative to the market as a whole. D. All of the above. 10. An increase in energy prices – through a carbon tax, for example – will cause A. an increase in marginal cost for energy-using firms. B. an increase in marginal revenue f...
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This document was uploaded on 03/03/2014.

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