Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs:Ciabatta Bread SoldPriceTotal CostPer Hour (Q)(P)(TC)$1.50$6.0015.506.005 004 509.50312.504.0015.0053.5017.0063.0018.5072.5020.5082.0023.50a. To maximize profits, Maria should sell loaves of ciabatta bread per hour. (Enter your response as an integer.)Maria should charge a price of $ (Enter your response rounded to two decimal places.)Maria's maximum profit is S(Enter your response rounded to two decimal places.)b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is S: (Enter your response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is S (Enter yourresponse rounded to two decimal places.)

The firm maximizes profit by producing at a point where marginal revenue is equal to marginal cost.

Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price (P) $6.00 Total Cost (ТC) $1.50 6.00 Per Hour (Q) 1 5.50 2 5.00 9.50 3 4.50 12.50 4 4.00 15.00 5 3.50 17.00 6 3.00 18.50 7 2.50 20.50 8 2.00 23.50 a. To maximize profits, Maria should sell loaves of ciabatta bread per hour. (Enter your response as an integer.) Maria should charge a price of S. (Enter your response rounded to two decimal places.) Maria's maximum profit is S. (Enter your response rounded to two decimal places.) b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is S. (Enter your response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves ciabatta bread is S. (Enter your response rounded to two decimal places.)

Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Price (P) $6.00 Total Cost (ТC) $1.50 6.00 Per Hour (Q) 1 5.50 2 5.00 9.50 3 4.50 12.50 4 4.00 15.00 5 3.50 17.00 6 3.00 18.50 7 2.50 20.50 8 2.00 23.50 a. To maximize profits, Maria should sell loaves of ciabatta bread per hour. (Enter your response as an integer.) Maria should charge a price of S. (Enter your response rounded to two decimal places.) Maria's maximum profit is S. (Enter your response rounded to two decimal places.) b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is S. (Enter your response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves ciabatta bread is S. (Enter your response rounded to two decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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