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Question 123

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Use the following to answer question: Use the following to answer question:   -(Table: Lilly's Apple Orchard) Use Table: Lilly's Apple Orchard.Lilly is the price-taking owner of an apple orchard;the orchard's variable costs are given in the table.Her orchard has fixed costs of $30.If the price of a bushel of apples is $85,we would expect total industry output to _____ and Lilly's output to _____ in the long run. A) rise;rise B) fall;fall C) fall;rise D) rise;fall
-(Table: Lilly's Apple Orchard) Use Table: Lilly's Apple Orchard.Lilly is the price-taking owner of an apple orchard;the orchard's variable costs are given in the table.Her orchard has fixed costs of $30.If the price of a bushel of apples is $85,we would expect total industry output to _____ and Lilly's output to _____ in the long run.


A) rise;rise
B) fall;fall
C) fall;rise
D) rise;fall

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