Question
. Consider a restaurant that charges $ 10 for all you can eat and has 25 customers at this price. The slope of the demand
. Consider a restaurant that charges $ 10 for all you can eat and has 25 customers at this price. The slope of the demand curve is minus
$0.10 permeal, and the marginal cost of providing a meal is $6.
1.) Use the line drawing tool to draw and label the demand line.
2.) Use the line drawing tool to draw and label the marginal revenue line.
3.) Use the line drawing tool to draw the marginal cost line.
Carefully follow the instructionsabove, and only draw the required objects.
Theprofit-maximizing quantity is
_____ meals. (Enter your response rounded to the nearestunit.)
Theprofit-maximizing price is $_____
. (Enter your response rounded to the nearestdollar.)
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