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Home / Questions / Phoebe keeps a bee farm next door to an apple orchard. She chooses her optimal number ofbeehives...

Phoebe keeps a bee farm next door to an apple orchard. She chooses her optimal number ofbeehives...

Phoebe keeps a bee farm next door to an apple orchard. She chooses her optimal number ofbeehives by selecting the honey output level at which her private marginal benefit frombeekeeping equals her private marginal cost.Assume that Phoebe’s private marginal benefit and marginal cost curves from beekeeping arenormally shaped. Draw a diagram of them.
 

Apr 11 2020 View more View Less

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