Table 14-1
This table shows the revenue and costs of a parrot farmer.

-Refer to Table 14-1. If the farmer determines that marginal cost is $11, harvest of parrots should:

Question

Table 14-1
This table shows the revenue and costs of a parrot farmer.
 
-Refer to Table 14-1. If the farmer determines that marginal cost is $11, harvest of parrots should:

Quizplus · Accepted Answer

If the marginal cost is $11 and the farmer is looking to maximize profit, they should increase production as long as the marginal cost is less than the marginal revenue. Without specific marginal revenue data, the assumption is that increasing production could lead to higher profits.

Table 14-1 This Table Shows the Revenue and Costs of a Parrot