Calculate MAD for March. [Select the appropriate range in which your answer falls.] Month Actual Demand Forecast January 107 99 February 143 152 March 139 117 April 90 80 May 152 134 June 178 165 July 85 94

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.