Map deb Sapling Learning Rambutan is a fruit prized in Eastern Asia for its uniq

Question

Map deb Sapling Learning Rambutan is a fruit prized in Eastern Asia for its unique hairy look. Once peeled, it reveals a sweet, slightly sour grape like gummy tasting fruit. Below is a graph for a perfectly or (purely) competitive rambutan farmer. This firm is incurring a In the Price cost of bushel long run, firms will this market O loss leave O loss enter MC O profit enter O profit leave 12.11 ATC What is this firm's profit/loss (round to 10.11 9.51 the nearest penny)? Number If the market price fell to $9.51, then... 5.4 Quantity of rambutan (bushels) O this firm would be incurring a loss. O this firm is breaking even (zero profit). O this firm would be making an economic profit O This firm would be at its shut down price.

Explanation / Answer

This firm is incurring a profit. in the long run,firms will enter this market.

What is this firm's profit/loss-

Ans-Profit=TR-TC=$7*(12.11-10.11)=$14.

If market price fell to $9.51 ,then

Ans-d.This firm would be making an economic profit.

Explanation- Economic profit arises when P>ATC.

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