Price of fertilizer compare to the average total cost

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Reference no: EM1320246

Q. they are currently making economic losses.

a. Elucidate how does the price of fertilizer compare to the average total cost, the average variable cost also the marginal cost of producing fertilizer?

b. Average total cost also the average variable cost would be greater than the price of fertilizer. The marginal cost would be equal to the price of fertilizer. Is this correct?

c. Assuming there is no change in demand or the industries' cost curves, explain Illustrate what will occur in the long run to the price of fertilizer, marginal cost, average total cost, the quantity supplied by each industry also the total quantity supplied to the marketplace.

Reference no: EM1320246

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