Use the Following to Answer Question

question 123

Multiple Choice

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

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Definitions:

Neocolonialization

A term referring to the form of indirect control that developed countries exert over developing countries, often through economic, social, and cultural pressures, following the end of direct colonial rule.

Color Line

A term originally used to describe the racial segregation in the United States, particularly in reference to African Americans and whites.

Color Line

The term "color line" was coined by W.E.B. Du Bois to refer to the racial segregation and discrimination that divides people into white and non-white groups.

Iterative Agency

The concept that agents (individuals or groups) make decisions and take actions repeatedly, with each iteration having the potential to change the context or conditions under which future decisions and actions are made.