Homework Help is Here – Start Your Trial Now!
Business
Economics
The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firm producing different quantities of apple pies. The market price of apple pies is $10.00 per pie. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Instructions: Round your answers to two decimal places. Baker Street's Costs and Revenues Quantity (apple pies) MR TC (dollars) MC (dollars) (dollars) 25 $205.00 $7.00 $ AR (dollars) $ 30 237.50 6.50 35 272.50 7.00 40 312.50 8.00 45 362.50 10.00 50 422.50 12.00 Instructions: Enter your answers as a whole number. b. At the market price of $10.00 per apple pie, how many apple pies should Baker Street make? apple pies c. If the market price for apple pies were to rise to $12.00 per apple pie, how many apple pies should Baker Street make? apple pies

The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firm producing different quantities of apple pies. The market price of apple pies is $10.00 per pie. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Instructions: Round your answers to two decimal places. Baker Street's Costs and Revenues Quantity (apple pies) MR TC (dollars) MC (dollars) (dollars) 25 $205.00 $7.00 $ AR (dollars) $ 30 237.50 6.50 35 272.50 7.00 40 312.50 8.00 45 362.50 10.00 50 422.50 12.00 Instructions: Enter your answers as a whole number. b. At the market price of $10.00 per apple pie, how many apple pies should Baker Street make? apple pies c. If the market price for apple pies were to rise to $12.00 per apple pie, how many apple pies should Baker Street make? apple pies

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question
please give me correct answer with calculation
The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firm producing different quantities of apple pies. The market price of apple pies is $10.00 per pie. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Instructions: Round your answers to two decimal places. Baker Street's Costs and Revenues Quantity (apple pies) MR TC (dollars) MC (dollars) (dollars) 25 $205.00 $7.00 $ AR (dollars) $ 30 237.50 6.50 35 272.50 7.00 40 312.50 8.00 45 362.50 10.00 50 422.50 12.00 Instructions: Enter your answers as a whole number. b. At the market price of $10.00 per apple pie, how many apple pies should Baker Street make? apple pies c. If the market price for apple pies were to rise to $12.00 per apple pie, how many apple pies should Baker Street make? apple pies
Transcribed Image Text:The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firm producing different quantities of apple pies. The market price of apple pies is $10.00 per pie. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Instructions: Round your answers to two decimal places. Baker Street's Costs and Revenues Quantity (apple pies) MR TC (dollars) MC (dollars) (dollars) 25 $205.00 $7.00 $ AR (dollars) $ 30 237.50 6.50 35 272.50 7.00 40 312.50 8.00 45 362.50 10.00 50 422.50 12.00 Instructions: Enter your answers as a whole number. b. At the market price of $10.00 per apple pie, how many apple pies should Baker Street make? apple pies c. If the market price for apple pies were to rise to $12.00 per apple pie, how many apple pies should Baker Street make? apple pies
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS