Question: Apply MC=MR approach for completing the table given below Q8 Apply MC = MR approach for completing the table given below. 10 marks Price or

Apply MC=MR approach for completing the table given below

Q8 Apply MC = MR approach for completing the table given below. 10 marks Price or Cost (dollars/bushel) MC ATC 4.90 - delle /AVC 3.90 3.10 h 1.90 1.10 13 18 24 37 46 50 54 Quantity (thousands of bushels/year) Quantity Price TR TC Profit Loss 46 4 9 50 Shut down price = Shut down output = Short period supply curve

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