Use the Following to Answer Question

question 49

Multiple Choice

Use the following to answer question:
-(Table: Lilly's Apple Orchard) Look at the 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:

Inverted Pyramid

A method of writing used in journalism and other disciplines, where information is presented in descending order of importance.

SUCCESs Principles

are a set of criteria identified in the book "Made to Stick" by Chip and Dan Heath, designed to make ideas clearer and more memorable, including Simplicity, Unexpectedness, Concreteness, Credibility, Emotions, and Stories.

AP Style

A set of guidelines for writing and formatting news stories developed by the Associated Press, widely used in journalism and public relations.

Specific Date

A particular day identified by its unique combination of day, month, and year.