An apple farmer can only produce in quantities of 1 100 200

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An apple farmer can only produce in quantities of 1, 100, 200, 300, 400 or 500 Bushels and has the following costs

Bushels Total Cost

0 $200

100 $350

200 $550

300 $800

400 $1,300

500 $2,000

1. What is the marginal cost per bushel of apples produced?

2. If the market price of a bushel of apples is $5.50, and is unaffected by the farmer's production decision, then the marginal revenue of a bushel of apples is $5.50. In that case, how many bushels of apples should the farmer produce?

If the government imposes a tax on the sellers which results in the sellers receiving $1 less per bushel sold, what amount of apples should the farmer choose to produce?

Reference no: EM13379258

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