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Use the following to answer questions:
-(Table: Cherry Farm) Look at the table Cherry Farm. If Hank and Helen have one of 100 identical farms in the perfectly competitive cherry industry, explain how Hank and Helen and the industry will react in the short run and the long run to a price of $8 per pound for cherries.
Tackle
To confront or take on a challenge or issue directly.
Increase Efficiency
The process of improving the capability of performing tasks or activities with the minimal amount of waste, effort, or inefficiency.
Prime Time
The period during a television broadcast schedule when the largest number of viewers are watching, typically in the evening.
Plan Activities
The process of organizing tasks, events, or actions that are intended to be carried out.
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