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A watermelon farm  is in a perfectly competitive market and faces a fixed price per pound of watermelon of $7

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A watermelon farm  is in a perfectly competitive market and faces a fixed price per pound of watermelon of $7.10. the firm faces the following cost curve: 

C=100+6.6Q + 1/72 Q²

 

A. Based on the cost curve you found for the operation, what is its supply curve? 

 

B. Using this supply curve, what is the competitive market equilibrium quantity of watermelon produced by this operation? 

 

C. the farms that process these watermelons have a maximum willingness to pay of $15.00 per pound. What is the consumer surplus for this competitive equilibrium? 

 

D. the watermelon farm has purchased labor-saving technology, which increases its ability to supply watermelon by 20%. The farm is still a price-taker. How does this change in production technology affect the following? 

i.Competitive market equilibrium price
ii. Competitive market equilibrium quantity
iii. Consumer surplus at the competitive market equilibrium