The figure to the right illustrates the average total cost (ATC) and marginal cost (MC) curves for an apple farmer. Assume the market for apples is perfectly competitive.
If the market price for apples is $42.00 per crate, then what will be this apple farmer's profit? Use the rectangle drawing tool to shade in the apple farmer's profit. Label this shaded area 'Profit'. Carefully follow the instructions above, and only draw the required objects.
Given,  P = $32 The red line in following graph shows the price line and the blue area has been marked by Profit. Quantity will be determined by P = MC line ... See the full answer