Question
1. The table below shows the hourly output and cost structure for a small-town pizza shop. Calculate Marginal Revenue and Marginal Cost to determine the
1. The table below shows the hourly output and cost structure for a small-town pizza shop. Calculate Marginal Revenue and Marginal Cost to determine the pizza shop's profit-maximizing rate of output. Assume that the price of a pizza in this town is $10.
Hourly Output of Pizzas Total Hourly Cost ($)
0 5
1 9
2 11
3 12
4 14
5 18
6 24
7 32
8 42
9 54
10 68
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