Use the following to answer questions: 
-(Table: Lilly's Apple Orchard) Look at the table Lilly's Apple Orchard. Lilly is the price-taking owner of an apple orchard. Her orchard has fixed costs of $30. If the price of a bushel of apples is $25, how many bushels will Lilly produce to maximize profit?
Definitions:
Price Floor
A government-imposed minimum price charged for a good or service, intended to prevent prices from falling below a certain level to protect producers or market sectors.
Producer Surplus
The difference between the amount producers are willing to accept for a good or service versus the amount they actually receive in the market.
Equilibrium Price
The equilibrium price is the price at which the quantity of a good or service demanded equals the quantity supplied, leading to market balance.
Consumer Surplus
The contrast between the full amount consumers are willing to disburse for a product or service and the actual disbursement.
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