Typed plz and asap please provide a high quality solution give all steps as well as calculations and take care of plagiarism also The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing differentquantities of chocolate gift boxes. The market price for a box of chocolates is $5 per box.Instructions: Enter your answers as a whole number.a. Fill in the marginal revenue (MR) and average revenue (AR) columns.Choco Lovers Cost and RevenueQuantity of Gift BoxesTC ($)MC ($)MR ($)AR ($)1065415823.50201024251275301627352079

Characteristics of a Purely Competitive(PC) Market:Many sellers and purchasers exist in the…

Answered: The table below shows the total cost…

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 11E

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The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing different quantities of chocolate gift boxes. The market price for a box of chocolates is $4 per box. Instructions: Enter your answers as a whole number a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Quantity of Gif Boxes 5 10 15 20 25 30 Choco Lovers Cost and Revenue TC ($) MC ($) MR ($) 55 4 57 4 62 4 72 92 122 30 gift boxes 1 0.50 1 2 4 6 4 4 4 What will the new profit or loss be per gift box? AR ($) 4 4 4 Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. A loss should be entered as a negative number. b. Given a price of $4 per gift box, how many boxes of chocolate should Choco Lovers produce? 25 gift boxes What will the profit or loss be per gift box? per gift box c. Suppose that Choco Lovers raises the price to…
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing different quantities of chocolate gift boxes. The market price for a box of chocolates is $8 per box. Instructions: Enter your answers as a whole number. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue Quantity TC MC MR AR of Gift Boxes ($) ($) ($) ($) 20 115 5 25 137 4.50 30 162 35 192 40 232 8 45 282 10 Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. A loss should be entered as a negative number. b. Given a price of $8 per gift box, how many boxes of chocolate should Choco Lovers produce? gift boxes What will the profit or loss be per gift box? $ per gift box c. Suppose that Choco Lovers raises the price to $10 per gift box. Now how many boxes should Choco Lovers produce? gift boxes…
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing differe quantities of chocolate gift boxes. The market price for a box of chocolates is $4 per box. Instructions: Enter your answers as a whole number. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue Quantity TC MC MR AR of Gift Boxes ($) ($) ($) ($) 55 1 10 57 0.50 15 62 1 20 72 25 92 4 30 122 6.
Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. A loss should be entered as a negative number. Check my work b. Given a price of $8 per gift box, how many boxes of chocolate should Choco Lovers produce? gift boxes What will the profit or loss be per gift box? 24 per gift box C. Suppose that Choco Lovers raises the price to $10 per gift box. Now how many boxes should Choco Lovers produce? gift boxes What will the new profit or loss be per gift box?
The table below shows cost and revenue information for Choco Lovers, a purely competitive firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Instructions: Enter your answers rounded to two decimal places. Quantity of Gift Boxes 20 25 30 35 40 45 b. Total revenue = Choco Lovers Cost and Revenue TC ($) ATC ($) 5.75 5.50 5.42 c. Profit = $ 227.50 d. Profit per unit = $ 115.00 137.50 162.50 192.50 232.50 282.50 Assume the profit-maximizing price is $8 per gift box, and then answer the following questions: a. Profit-maximizing quantity = 35 gift boxes 12 5.81 6.28 MC ($) per gift box 5.00 4.50 5.00 6.00 8.00 10.00
he table below shows the weekly marginal cost (MC) and average total cost (ATC) for Smitten, a perfectly competitive firm that roduces children's mittens in a competitive market. Smitten's Production Costs Quantity (pairs of mittens) Marginal Cost (dollars) $1.60 Average Total Cost (dollars) $2.2 2.17 2.21 25 30 2.00 35 2.45 3.55 4.00 40 2.38 45 2.56 2.85 50 5.50 55 6.00 3.14 60 8.50 3.58 Instructions: In part a, enter your answer as a whole number. In parts b, c. and d, round your answers to two decimal places. a. If the market price of children's mittens is $6.00 per pair, how many palrs of children's mittens should Smitten produce per week to maximize its profits? pairs of mittens b. When the market price is $6.00, what is Smitten's average total cost at the profit-maximizing quantity of children's mittens? %24 3.28 c. What are Smitten's weekly profits if the market price is $6.00 per pair and the firm produces the profit-maximizing quantity of mittens? d. What are Smitten's weekly…
Help Save & Exit Submit The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Smitten, a perfectly competitive firm that produces children's mittens in a competitive market. Smitten's Production Costs Quantity (pairs of mittens) 15 Marginal Cost (dollars) $1.60 Average Total Cost (dollars) $1 20 2.00 1.25 25 2.45 1.49 30 3.55 4.00 1.83 35 2.14 40 5.50 6.00 8.50 2.56 45 2.94 50 3.5 Instructions: In part a, enter your answer as a whole number. In parts b, c and d, round your answers to 2 decimal places. a. If the market price of children's mittens is $6.00 per pair, how many pairs of children's mittens should Smitten produce per week to maximize its profits? pairs of mittens b. When the market price is $6.00, what is Smitten's average total cost at the profit-maximizing quantity of children's mittens? 24 c. What are Smitten's weekly profits if the market price is $6.00 per pair and the firm produces the profit-maximizing quantity of mittens? p..........: d.…
Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Per Hour (Q) Price (P) Total Cost (TC) 0 $6.00 $1.50 1 5.50 6.00 2 5.00 9.50 3 4.50 12.50 4 4.00 15.00 5 3.50 17.00 6 3.00 18.50 7 2.50 20.50 8 2.00 23.50 a. To maximize profits, Maria should sell nothing loaves of ciabatta bread per hour. (Enter your response as an integer.)
Refer to the accompanying figure. If the market for doughnuts is perfectly competitive, then assuming this firm can earn enough revenue to cover its variable cost, it should produce: Price (S/doughnut) 0.35 p 0.30 0.25 0.20 0.15 0.10 0.05 0 0 10 20 30 40 50 60 Marginal Cost 70 80 90 Quantity (doughnuts/day) Average Total Cost 50 doughnuts per day. the quantity of doughnuts at which average total cost is minimized. the quantity of doughnuts at which average total cost equals the market price. the quantity of doughnuts at which marginal cost equals the market price.
Suppose Andy sells basketballs in the perfectly competitive basketball market. His output per day and costs are as follows: Output per Day (Q) 0 1 2 3 5 6 7 8 9 Total Cost (TC) $10.00 $20.50 $24.50 $28.50 $34.00 $43.00 $55.50 $72.00 $93.00 $119.00 1) Make a table with Quantity (Q), Total Cost (TC), Fixed Cost (FC). Variable Cost (VC), Average Total Cost (ATC), Average Variable Cost (AVC), Marginal Cost (MC), and Marginal Revenue (MR) on it (using the Long-Run Equilibrium Price). 2) To maximize profits, how many basketballs will Andy produce? Identity the profit maximizing Quantity (Q*). Price (P*), and Profit (¹).
The table below shows the marginal cost (MC) for The Tea Shop, a perfectly competitive firm producing different quantities of tea. The market price of tea is $5.50 a box. Instructions: In part a, round your answers to two decimal places. In part b, enter your answer as a whole number. a. Complete the marginal revenue (MR) column in the table below. The Tea Shop's Costs and Revenues Marginal Cost Quantity (tea) 50 75 100 125 150 175 200 225 (dollars) $5.00 4.50 4.00 5.50 9.00 14.50 21.50 30.50 boxes Marginal Revenue (dollars) $ b. At a market price of $5.50 per box of tea, how many boxes of tea should The Tea Shop supply? c. Suppose there is an increase in demand. The likely effect on the market will be (Click to select) in the market price and (Click to select) in the quantity produced by The Tea Shop.
Sparkle is one firm of many in the market for toothpaste, which is in long-run equilibrium. Indicate which of the following graphs accurately reflects Sparkle's demand curve, marginal-revenue (MR) curve, average-total-cost (ATC) curve, and marginal-cost (MC) curve. (?) ?) A B Demand Demand ATC ATC MC- MC- MR MR Quantity of Sparkle Toothpaste Quantity of Sparkle Toothpaste A B Price, Cost, Revenue Price, Cost, Revenue

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