Question
2 2.5 points Skipped The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing
2 2.5 points Skipped 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 $7 per box. Instructions: Enter your answers as a whole number. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue Book Print Quantity of Gift Boxes TC ($) MC (5) MR (5) AR (5) 20 135 6 25 162 5.50 References 30 192 6 35 227 7 40 272 9 45 327 11 Mc Gras 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 $7 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
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