Determine how many bushels will lilly produce


Lilly is the price-taking owner of an apple orchard; its variable costs are given in table. Her orchard has fixed costs of $30. Determine how many bushels will Lilly produce if the price of a bushel of apples is $80? Is this a long-run equilibrium? Explain what will be the price of a bushel of apples in the long run?

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Macroeconomics: Determine how many bushels will lilly produce
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