Business, 21.05.2021 16:50 zairaefh3200

Assume that an apple farmer must decide how many apples to harvest for the world apple market. He knows that there is a one-third probability that the world price will be $1, a one-third probability that it will be $1.50, and a one-third probability that it will be $2. His cost function is C(Q) = 0.01Q2. What is the expected price in the world apple market?

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Assume that an apple farmer must decide how many apples to harvest for the world apple market. He kn...