The table below shows the total cost and marginal cost for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Total Quantity Marginal Cost Marginal Revenue Price Total Cost Revenue $31 $0 $50 25 29 725 100 $2 30 810 108 2 17 35 25 118 13 40 23 920 133 9. 45 21 945 50 19 950 193 7 1 Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places. Profit-maximizing quantity = [ units Profit-maximizing price = $ Profit = $|
The table below shows the total cost and marginal cost for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Total Quantity Marginal Cost Marginal Revenue Price Total Cost Revenue $31 $0 $50 25 29 725 100 $2 30 810 108 2 17 35 25 118 13 40 23 920 133 9. 45 21 945 50 19 950 193 7 1 Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places. Profit-maximizing quantity = [ units Profit-maximizing price = $ Profit = $|
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The table below shows the total cost and marginal cost for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table.
![The table below shows the total cost and marginal cost for Choco Lovers, a monopolistic firm producing different quantities of
chocolate gift boxes. Fill in the blanks in the table.
Total
Marginal
Revenue
Quantity
Price
Total Cost
Marginal Cost
Revenue
$31
$0
$50
25
29
725
100
$2
30
810
108
2
17
35
25
118
13
40
23
920
133
9.
45
21
945
50
19
950
193
7
1
Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places.
Profit-maximizing quantity = |
units
Profit-maximizing price = $
Profit = $|](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6cc29b74-3f67-404d-ad70-37bd7cbf806f%2Fc2614016-afc1-42f7-bcee-778dc43680e7%2Fzggupmy_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The table below shows the total cost and marginal cost for Choco Lovers, a monopolistic firm producing different quantities of
chocolate gift boxes. Fill in the blanks in the table.
Total
Marginal
Revenue
Quantity
Price
Total Cost
Marginal Cost
Revenue
$31
$0
$50
25
29
725
100
$2
30
810
108
2
17
35
25
118
13
40
23
920
133
9.
45
21
945
50
19
950
193
7
1
Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places.
Profit-maximizing quantity = |
units
Profit-maximizing price = $
Profit = $|
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