The table below provides price, revenue, and cost information for a monopolistically competitive firm selling drive-through car washes in a large city.
a. Complete the table.
b. Plot the demand, marginal revenue, marginal cost, and average cost curves for the firm. (Be sure to plot MR and MC at the midpoint of the output intervals.)
c. What is the profit-maximizing number of car washes (per month)?
d. What is the profit-maximizing price?
e. Calculate the total maximum profit (per month).
f. How can this firm differentiate its product from other car washes?