Farmer Jones grows oranges The total revenue marginal

Last updated: 5/27/2023

Farmer Jones grows oranges The total revenue marginal revenue total cost and marginal cost of producing various quantities of oranges crates in 1000s are presented in the table below Output crates in 1000s 0 2 3 6 Total Revenue 50 150 300 450 600 750 900 Marginal Revenue 150 150 150 150 150 150 Total Cost 0 180 300 360 480 720 1020 Marginal Cost 160 120 60 120 240 300 Suppose the market for oranges is perfectly competitive To maximize protits farmer Jones should produce 4000 thousand crates of oranges Enter a numeric response using an integer At that level of output farmer Jones will earn profit of S