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A perfectly competitive apple farm produces 1,000 bushels of apples at a total cost of $36,000. The price of each bushel is $50. Calculate the firm's short-run profit or loss.

Sagot :

The firm's short run profit is $14,000.

What is the short run profit or loss?

Short run profit or loss can be determined by subtracting total revenue from total cost. Total revenue is total units sold multiplied by price per unit.

Short run profit = total revenue - total cost

Short run profit = (1000 x 50) - 36,000 = $14,000

To learn more about profit, please check: https://brainly.com/question/26181966

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