A pen producer in a monopolistically competitive market recently changed ink suppliers which caused a decrease in total cost of production. Using the data collected below, which includes the firm's new cost schedule, what should this firm set price and quantity at to maximize profits on pen sales? Costs of Production for Boxes of Pens Price Quantity Total Revenue Total Cost Marginal Revenue Marginal Cost $16 0 - $50 - - $15 50 $750 $700 $15 $13 $14 100 $1,400 $1,350 $13 $12 $13 150 $1,950 $1,850 $11 $11 $12 200 $2,400 $2,350 $9 $10 $11 250 $2,750 $2,800 $7 $9 $10 300 $3,000 $3,200 $5 $8 $9 350 $3,150 $3,550 $3 $7