Please help with correcting the chart. Thanks :) The table below shows cost and revenue information for Choco Lovers, a purely competitive firm producing different quantities ofchocolate gift boxes. Fill in the blanks in the table.Instructions: Enter your answers rounded to two decimal places.X Answer is complete but not entirely correct.Choco Lovers Cost and RevenueQuantityTCATCMCof Gift Boxes($)($)($)1065.006.504.001582.505.504.020102.65.134.0025127.505.105.0030162.505.427.0035207.505.939.00Assume the profit-maximizing price is $5 per gift box, and then answer the following questions:a. Profit-maximizing quantity =25gift boxesb. Total revenue = $125c. Profit = $-2.50%Dd. Profit per unit = $-0.10per gift box

Answered: correcting the chart.

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correcting the chart.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please help with correcting the chart. Thanks :)

The table below shows cost and revenue information for Choco Lovers, a purely competitive firm producing different quantities of
chocolate gift boxes. Fill in the blanks in the table.
Instructions: Enter your answers rounded to two decimal places.
X Answer is complete but not entirely correct.
Choco Lovers Cost and Revenue
Quantity
TC
ATC
MC
of Gift Boxes
($)
($)
($)
10
65.00
6.50
4.00
15
82.50
5.50
4.0
20
102.6
5.13
4.00
25
127.50
5.10
5.00
30
162.50
5.42
7.00
35
207.50
5.93
9.00
Assume the profit-maximizing price is $5 per gift box, and then answer the following questions:
a. Profit-maximizing quantity =
25
gift boxes
b. Total revenue = $
125
c. Profit = $-2.50
%D
d. Profit per unit = $
-0.10
per gift box

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