The table below contains some revenue and cost data for the Rising Moon T-shirt Company (quantities for packets of a dozen shirts), which is in long-term equilibrium.a. Complete the blanks in the following table. Round your answers in the "AC" column to 2 decimal places. QuantityPriceTRMRTCMCAC0/$ / / $128 //1 70 160 2 136 190 3 198 230 4 256 272 5 310 315 6 360 360 7 406 406 8 448 453 b. What is the profit-maximizing price and output for Rising Moon? Price: $ Output: c. At the profit-maximizing output, what are MC and MR? MC: $ MR: $ d. At the profit-maximizing output, what are AC and AR? Round your AC answer to 2 decimal places. AC: $ AR: $ e. Given your answers above, what type of market must Rising Moon be operating in?

Note : Since there are multiple sub parts of the question ,only the first three sub parts shall be…

The table below contains some revenue and cost data for the Rising Moon T-shirt Company (quantities for packets of a dozen shirts), which is in long-term equilibrium. a. Complete the blanks in the following table. Round your answers in the "AC" column to 2 decimal places.

The table below contains some revenue and cost data for the Rising Moon T-shirt Company (quantities for packets of a dozen shirts), which is in long-term equilibrium. a. Complete the blanks in the following table. Round your answers in the "AC" column to 2 decimal places.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 13CTQ: Think back to a purchase that you made recently. How would you describe your thinking before you...

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Concept explainers

Product and Price Bundling

Product and price bundling is used as a marketing strategy by businesses, where complementary products and services are combined and sold as a package deal. This bundled price is usually less than the total price of the individual products if they were to be sold separately. When bundled and sold, each product is sold at a reduced price. Using a price bundling strategy helps increase the average revenue per user and also increases the engagement with the user. This happens as the perceived value of the bundled products is more than the individual products.

Question

The table below contains some revenue and cost data for the Rising Moon T-shirt Company (quantities for packets of a dozen shirts), which is in long-term equilibrium.

a. Complete the blanks in the following table. Round your answers in the "AC" column to 2 decimal places.

Quantity	Price	TR	MR	TC	MC	AC
0	/	$ /	/	$128	/	/
1		70		160
2		136		190
3		198		230
4		256		272
5		310		315
6		360		360
7		406		406
8		448		453

b. What is the profit-maximizing price and output for Rising Moon?

Price: $

Output:

c. At the profit-maximizing output, what are MC and MR?

MC: $

MR: $

d. At the profit-maximizing output, what are AC and AR? Round your AC answer to 2 decimal places.

AC: $

AR: $

e. Given your answers above, what type of market must Rising Moon be operating in?

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