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. Quantity Price $31 29 25 30 35 40 45 50 25 23 21 19 Total Revenue $0 725 810 920 945 950 Total Cost Marginal Cost = $50 100 108 118 133 193 $2 2 units 3 5 7 Marginal Revenue 17 13 9 Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places. Profit-maximizing quantity Profit-maximizing price = $ Profit = $ 1

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. Quantity Price $31 29 25 30 35 40 45 50 25 23 21 19 Total Revenue $0 725 810 920 945 950 Total Cost Marginal Cost = $50 100 108 118 133 193 $2 2 units 3 5 7 Marginal Revenue 17 13 9 Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places. Profit-maximizing quantity Profit-maximizing price = $ Profit = $ 1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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