Use the following to answer questions : $$\begin{array}{l}
\text { Table: Cherry Farm }\
\begin{array} { c c }
\hline \begin{array} { l }
\text { Quantity of } \
\text { cherries } \
\text { (in pounds) }
\end{array} & \text { Total Cost } \
\hline 0 & \$ 2 \
1 & 7 \
2 & 11 \
3 & 13 \
4 & 16 \
5 & 21 \
6 & 28 \
7 & 38 \
\hline
\end{array}
\end{array}$$
-(Table: Cherry Farm)Use Table: Cherry Farm.If Hank and Helen have one of the 100 farms in the perfectly competitive cherry industry,and if the price is $3,in the short run,the industry will supply _____ kilograms.

Question

Use the following to answer questions : $$\begin{array}{l}
\text { Table: Cherry Farm }\
\begin{array} { c c } 
\hline \begin{array} { l } 
\text { Quantity of } \
\text { cherries } \
\text { (in pounds) }
\end{array} & \text { Total Cost } \
\hline 0 & \$ 2 \
1 & 7 \
2 & 11 \
3 & 13 \
4 & 16 \
5 & 21 \
6 & 28 \
7 & 38 \
\hline
\end{array}
\end{array}$$
-(Table: Cherry Farm)Use Table: Cherry Farm.If Hank and Helen have one of the 100 farms in the perfectly competitive cherry industry,and if the price is $3,in the short run,the industry will supply _____ kilograms.

Quizplus · Accepted Answer

The price of $3 is below the average variable cost for any quantity of cherries, so the farm will not produce any cherries in the short run, leading to a supply of 0 kilograms.

Use the Following to Answer Questions -(Table: Cherry Farm)Use Table: Cherry Farm