Table: Cherry Farm Quantity of cherries Total Cost (in pounds) S2 13 16 21 28 38 Use Table: Cherry Farm. Suppose all farms have identical cost curves, as shown in the table. How much will the industry produce in long-run equilibrium if there are 100 farms in the industry in the long run?

Table: Cherry Farm Quantity of cherries Total Cost (in pounds) S2 13 16 21 28 38 Use Table: Cherry Farm. Suppose all farms have identical cost curves, as shown in the table. How much will the industry produce in long-run equilibrium if there are 100 farms in the industry in the long run?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 8SCQ: Automobile manufacturing is an industry subject to significant economies of scale. Suppose there are...

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Just a student stuck on this Economic question for awhile. Question in image.

I appreciate you helping me learn :)

Table: Cherry Farm
Quantity of
cherries
Total Cost
(in pounds)
S2
13
16
21
28
38
Use Table: Cherry Farm.
Suppose all farms have identical cost curves, as shown in the table. How much will the industry
produce in long-run equilibrium if there are 100 farms in the industry in the long run?

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