In Portland, let’s assume that Maria sells coffee in a monopolisticly competitive market. Maria generated the data presented in the table below to determine the profit-maximizing quantity at which she should sell. What is Maria’s coffee shop’s profit-maximizing output? Quantity Price Total Revenue Marginal Revenue Total Cost Marginal Cost 5 $21 $105 $21 $150 $30 10 $18 $180 $15 $160 $2 15 $16 $240 $12 $180 $4 20 $14 $280 $8 $220 $8 25 $11 $275 $1 $270 $10 30 $10 $300 $0 $330 $12 35 $8 $280 −$4 $400 $14
In Portland, let’s assume that Maria sells coffee in a monopolisticly competitive market. Maria generated the data presented in the table below to determine the profit-maximizing quantity at which she should sell. What is Maria’s coffee shop’s profit-maximizing output? Quantity Price Total Revenue Marginal Revenue Total Cost Marginal Cost 5 $21 $105 $21 $150 $30 10 $18 $180 $15 $160 $2 15 $16 $240 $12 $180 $4 20 $14 $280 $8 $220 $8 25 $11 $275 $1 $270 $10 30 $10 $300 $0 $330 $12 35 $8 $280 −$4 $400 $14
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
In Portland, let’s assume that Maria sells coffee in a
| Quantity | Price | Total Revenue |
Marginal Revenue |
Total Cost |
Marginal Cost |
|---|---|---|---|---|---|
| 5 | $21 | $105 | $21 | $150 | $30 |
| 10 | $18 | $180 | $15 | $160 | $2 |
| 15 | $16 | $240 | $12 | $180 | $4 |
| 20 | $14 | $280 | $8 | $220 | $8 |
| 25 | $11 | $275 | $1 | $270 | $10 |
| 30 | $10 | $300 | $0 | $330 | $12 |
| 35 | $8 | $280 | −$4 | $400 | $14 |
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