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Beatrice's Birthday Cakes operates in a monopolistically competitive market, so it is one bakery among many in the market for birthday cakes. The following table
Beatrice's Birthday Cakes operates in a monopolistically competitive market, so it is one bakery among many in the market for birthday cakes. The following table presents cost and revenue data for birthday cakes at Beatrice's. Costs Revenues Quantity Supplied (Units) Total Cost (Dollars) Marginal Cost (Dollars) Quantity Demanded (Units) Price (Dollars per Unit) Marginal Revenue (Dollars) Total Revenue (Dollars) 0 25 0 60 1 28 1 54 2 32 2 48 3 37 3 42 4 43 4 36 5 50 5 30 6 58 6 24 7 67 7 18 8 77 8 12 Refer to Table 17-4. At the profit-maximizing quantity, what is Beatrice's total profit? a. $89 b. $43 c. $101 d. $144
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