Use the following to answer question:
-(Table: Cherry Farm)Use Table: Cherry Farm.If Hank and Helen have one of 100 farms in the perfectly competitive cherry industry and if the price is $3,in the short run the industry will supply _____ pounds.

Question

Use the following to answer question: 
-(Table: Cherry Farm)Use Table: Cherry Farm.If Hank and Helen have one of 100 farms in the perfectly competitive cherry industry and if the price is $3,in the short run the industry will supply _____ pounds.

Quizplus · Accepted Answer

In the short run, the industry will supply 0 pounds because the price is below the average variable cost.

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