Suppose Rob is currently producing 100 comma 000 pizzas per month at a total cost of $10 comma 000.00. What is his average total cost of production? $ . 10. (Enter a numeric response using a real number rounded to two decimal places.) Now suppose Rob increases production to 100 comma 001 pizzas, and the total cost of production increases to $10 comma 000.16. What is his marginal cost of producing the 100 comma 001th pizza? $ . 16. Since the marginal cost of production is greater than the average total cost of production, the average total cost of production must be rising .

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.