Consider the following data for farmer John who sells tomatoes in a perfectly competitive market. Assume...

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Consider the following data for farmer John who sells tomatoes in a perfectly competitive market. Assume the current market price of tomatoes is $8.00 per bushel, and costs change with quantity as given below. What is John's Average Total Cost (ATC) if he produces 600 bushels of tomatoes? Q (bushels) Fixed Costs Variable Costs 0 600 0 100 600 700 200 600 1600 300 600 2200 400 600 2700 500 600 3100 600 600 3600 700 600 4400 800 600 5400 Consider the following data for farmer John who sells tomatoes in a perfectly competitive market. Assume the current market price of tomatoes is $8.00 per bushel, and costs change with quantity as given below. What is John's Average Total Cost (ATC) if he produces 600 bushels of tomatoes? Q (bushels) Fixed Costs Variable Costs 0 600 0 100 600 700 200 600 1600 300 600 2200 400 600 2700 500 600 3100 600 600 3600 700 600 4400 800 600 5400

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