Figure 12-2 Figure 12-2 shows the demand,marginal cost (MC)and average total cost (ATC)curves for Jason's House of Apples.
-Refer to Figure 12-2.If Jason maximizes his profit he will produce the output rate indicated by point ________ and his average profit will equal ________.

Question

Figure 12-2  Figure 12-2 shows the demand,marginal cost (MC)and average total cost (ATC)curves for Jason's House of Apples.
-Refer to Figure 12-2.If Jason maximizes his profit he will produce the output rate indicated by point ________ and his average profit will equal ________.

Quizplus · Accepted Answer

Jason maximizes his profit by producing at the output rate indicated by point d, where marginal cost equals marginal revenue. His average profit will equal $3 minus ATC at point d.

Figure 12-2 Figure 12-2 Shows the Demand,marginal Cost (MC)and