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
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Chapter1: Making Economics Decisions
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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
0
25
30
35
40
45
50
Price
$31
29
25
23
21
19
Total
Revenue
$0
725
810
920
945
950
Total Cost
$50
100
108
118
133
193
Marginal Cost
units
$2
2
3
5
7
THAN
120000
(22
120100
194
Thrak
W
10202
WIND
Hip For
S
F
1996-0
1920
Marginal
Revenue
201
197
(APS
2
17
13
9
1
Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places.
Profit-maximizing quantity
Profit-maximizing price = $
Profit = $
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. Quantity 0 25 30 35 40 45 50 Price $31 29 25 23 21 19 Total Revenue $0 725 810 920 945 950 Total Cost $50 100 108 118 133 193 Marginal Cost units $2 2 3 5 7 THAN 120000 (22 120100 194 Thrak W 10202 WIND Hip For S F 1996-0 1920 Marginal Revenue 201 197 (APS 2 17 13 9 1 Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places. Profit-maximizing quantity Profit-maximizing price = $ Profit = $
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