Use the following to answer question 205:
-(Table: Lilly's Apple Orchard) Use Table: Lilly's Apple Orchard.Lilly is the price-taking owner of an apple orchard;the orchard's variable costs are given in the table.Her orchard has fixed costs of $30.If the price of a kilogram of apples is $85,we would expect the total industry output to _____ and Lilly's output to _____ in the long run.
A) rise;rise
B) fall;fall
C) fall;rise
D) rise;fall
Correct Answer:
Verified
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