The table below shows cost and revenue information for Choco Lovers, a perfectly competitive firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Instructions: Round your answers to 2 decimal places. Choco Lovers Costs and Revenue Quantity TC ATC MC of Gift Boxes ($) ($) ($) 55.00 11.00 1.00 10 57.50 5.75 15 4.1667 1.00 20 72.50 2.00 25 92.50 3.70 4.00 30 122.50 40.833 6.00 Instructions: Enter your answers below as whole numbers. For profit and profit per unit, round your answers to 2 decimal places. Include a negative sign if necessary Profit-maximizing price = Profit-maximizing quantity = Total revenue = 24 Profit = 2$ 2$ Profit per unit =
The table below shows cost and revenue information for Choco Lovers, a perfectly competitive firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Instructions: Round your answers to 2 decimal places. Choco Lovers Costs and Revenue Quantity TC ATC MC of Gift Boxes ($) ($) ($) 55.00 11.00 1.00 10 57.50 5.75 15 4.1667 1.00 20 72.50 2.00 25 92.50 3.70 4.00 30 122.50 40.833 6.00 Instructions: Enter your answers below as whole numbers. For profit and profit per unit, round your answers to 2 decimal places. Include a negative sign if necessary Profit-maximizing price = Profit-maximizing quantity = Total revenue = 24 Profit = 2$ 2$ Profit per unit =
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:The table below shows cost and revenue information for Choco Lovers, a perfectly competitive firm producing different quantities of
chocolate gift boxes. Fill in the blanks in the table.
Instructions: Round your answers to 2 decimal places.
Choco Lovers Costs and Revenue
Quantity
TC
ATC
MC
of Gift Boxes
($)
($)
($)
5
55.00
11.00
1.00
10
57.50
5.75
15
4.1667
1.00
20
72.50
2.00
25
92.50
3.70
4.00
30
122.50
40.833
6.00
Instructions: Enter your answers below as whole numbers. For profit and
profit per unit, round your answers to 2 decimal places. Include a negative
sign if necessary.
4
Profit-maximizing price
Profit-maximizing quantity =
Total revenue =
Profit =
%3D
Profit per unit =
12
Next >
%24
%24
%24
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