Question 1
Refer to the information provided in Table 8.8 below to answer the following question(s).
Refer to Table 8.8. Assume that Polynesian Fruit sells fruit baskets in a perfectly competitive market. The market price of a fruit basket is $44. To maximize profits, Polynesian Fruit should sell ________ fruit basket(s) and their profit is ________.
◦ three; $10
◦ four; $14
◦ five; $28
◦ six; $28
Question 2
Refer to the information provided in Table 8.8 below to answer the following question(s).
Refer to Table 8.8. Assume that Polynesian Fruit sells fruit baskets in a perfectly competitive market. The market price of a fruit basket is $30. To maximize profits, Polynesian Fruit should sell ________ fruit basket(s) and their profit is ________.
◦ zero; $0
◦ two; -$70
◦ three; -$52
◦ five; -$42
answer only
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