Changes in demand will often be met with changes in output rather than changes in prices because of formal and informal contracts.

Refer to Figure 2-8. If Vidalia chooses to produce 80 dozen roses, how many orchids can it produce to maximize production?

A) 24 dozen orchids B) 48 dozen orchids C) 60 dozen orchids D) 74 dozen orchids

Average total cost is found by subtracting AFC from AVC

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