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Instructions: Enter your answers as a whole number. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue Quantity of Gift Boxes TC (S) MC ($) MR ($) AR ($) 15 155 9 180 20 197 8.50 240 25 242 9 30 292 10 35 352 12 40 422 14 Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. A loss should be entered as a negative number. b. Given a price of $12 per gift box, how many boxes of chocolate should Choco Lovers produce? 20 gift boxes What will the profit or loss be per gift box? $ 3.5 per gift box c. Suppose that Choco Lovers raises the price to $14 per gift box. Now how many boxes should Choco Lovers produce? gift boxes What will the new profit or loss be per gift box?

Instructions: Enter your answers as a whole number. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue Quantity of Gift Boxes TC (S) MC ($) MR ($) AR ($) 15 155 9 180 20 197 8.50 240 25 242 9 30 292 10 35 352 12 40 422 14 Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. A loss should be entered as a negative number. b. Given a price of $12 per gift box, how many boxes of chocolate should Choco Lovers produce? 20 gift boxes What will the profit or loss be per gift box? $ 3.5 per gift box c. Suppose that Choco Lovers raises the price to $14 per gift box. Now how many boxes should Choco Lovers produce? gift boxes What will the new profit or loss be per gift box?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please give me correct answer and proper calculation Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
Connect Problem CP 10-05 (algo) The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing different quantities of chocolate gift boxes. The market price for a box of chocolates is $12 per box. Instructions: Enter your answers as a whole number. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue Quantity of Gift Boxes TC (S) MC (S) MR ($) AR ($) 15 155 9 180 20 197 8.50 240 25 242 9 30 292 10 35 352 12 40 422 14 Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. A loss should be entered as a negative number. b. Given a price of $12 per gift box, how many boxes of chocolate should Choco Lovers produce? 20 gift boxes What will the profit or loss be per gift box? $ 3.5 per gift box c. Suppose that Choco Lovers raises the price to $14 per gift box. Now how many boxes should Choco Lovers produce? gift boxes What will the new profit or loss be per gift box? GA $
Transcribed Image Text:Connect Problem CP 10-05 (algo) The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing different quantities of chocolate gift boxes. The market price for a box of chocolates is $12 per box. Instructions: Enter your answers as a whole number. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue Quantity of Gift Boxes TC (S) MC (S) MR ($) AR ($) 15 155 9 180 20 197 8.50 240 25 242 9 30 292 10 35 352 12 40 422 14 Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. A loss should be entered as a negative number. b. Given a price of $12 per gift box, how many boxes of chocolate should Choco Lovers produce? 20 gift boxes What will the profit or loss be per gift box? $ 3.5 per gift box c. Suppose that Choco Lovers raises the price to $14 per gift box. Now how many boxes should Choco Lovers produce? gift boxes What will the new profit or loss be per gift box? GA $
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