40 O 35 Marginal Revenue 30 -0 25 Marginal Cost COSTS AND REVENUE (Dollars per phone case) 20 15 10 5 0 1 2 3 5 6 7 8 QUANTITY (Phone cases)Jayden's profit is maximized when they produce a total of l lphone cases. At this quantity, the marginal cost of the final phone case they produce isl ], an amount ' than the price received for each phone case they sell. At this point, the marginal cost of producing one more phone case (the first phone case beyond the profit maximizing quantity) isi i: an amount ' than the price received for each phone case they sell. Therefore, Jayden's profit-maximizing quantity occurs at the point of intersection between the ' curves. Because Jayden is a price taker, the previous condition is equivalent to ' .uuun. . nu. \\(u... Suppose Jayden operates a handicraft pop-up retail shop that sells phone cases. Assume a perfectly competitive market structure for phone cases with a market price equal to $20 per phone case. The following graph shows Jayden's total cost curve. Use the blue points (circle symbol) to plot total revenue and the green points ( triangle symbol) to plot prot for phone cases for quantitles zero through seven (including zero and seven) that Jayden produces. 200 175 Total Revenue 150 Total Cost A 125 Profit 100 O TOTAL COST AND REVENUE (Dollars) 75 50 O 25 0 -25 0 2 3 4 5 6 7 8 QUANTITY (Phone cases) Calculate Jayden's marginal revenue and marginal cost for the first seven phone cases they produce, and plot them on the following graph. Use the blue points (circle symbol) to