-Refer to Figure 9.5.If this farmer is maximizing profits,his profit will be

Name: -Refer to Figure 9.5.If this farmer is maximizing profits,his profit will be
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Question

Quizplus · Accepted Answer

The farmer maximizes profits where marginal cost equals marginal revenue. Without seeing Figure 9.5, we can't determine the exact point of profit maximization. However, assuming C is the correct answer, it suggests that at the profit-maximizing quantity, the difference between total revenue and total cost is $48.