Question: +180 pts Resources /1800 Al Tutor Submit Answer K Question 3 of 18 > Papa Mel's is an alfalfa farm in a perfectly competitive industry.

+180 pts Resources /1800 Al Tutor Submit Answer K Question 3 of 18 > Papa Mel's is an alfalfa farm in a perfectly competitive industry. The market demand and supply for alfalfa are shown in the market graph. Based on this information, move the line segment in Papa Mel's graph to show the correct placement of the demand curve for Papa Mel's alfalfa, then answer the question. Macmillan Learning The market graph is for reference and is not graded. Overall alfalfa market Papa Mel's alfalfa 10 Price - Marginal revenue = Demand CO 00 Supply Marginal cost N Price ($) Price and cost ($) A Demand N N Output (millions of bales) 2 3 4 5 6 7 8 9 10 Output (bales)Question 3 of 18 > Supply Marginal cos 6 - Price ($) 5 - Price and cost ($) 3 - A Demand 2 - N 00 - Output (millions of bales) 2 3 4 5 6 7 8 9 10 Output (bales) Papa Mel's profit-maximizing level of output is 8 bales. 6 bales. 3 bales

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