Following a market-wide expansion in production capacity, the equilibrium price for artisanal coffee beans has settled at $15 per pound. Four local roasters have also adjusted their operations. Based on their new daily output and average costs provided below, match each roaster to its correct economic outcome.
- Roast & Co.: Produces 100 pounds/day at an average cost of $13/pound.
- Bean Scene: Produces 150 pounds/day at an average cost of $15/pound.
- Ground Up: Produces 80 pounds/day at an average cost of $16/pound.
- Perkatory: Produces 120 pounds/day at an average cost of $12/pound.
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Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
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Following a market-wide expansion in production capacity, the equilibrium price for artisanal coffee beans has settled at $15 per pound. Four local roasters have also adjusted their operations. Based on their new daily output and average costs provided below, match each roaster to its correct economic outcome.
- Roast & Co.: Produces 100 pounds/day at an average cost of $13/pound.
- Bean Scene: Produces 150 pounds/day at an average cost of $15/pound.
- Ground Up: Produces 80 pounds/day at an average cost of $16/pound.
- Perkatory: Produces 120 pounds/day at an average cost of $12/pound.
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