d Safari File Edit View History Bookmarks Window Help (1 S Wed Apr3 2:16PM ng.cengage.com &% MindTap - Cengage Learning R Course Hero L . 2 CENGAGE ' MINDTAP Q Search this course .~ Module Five Quiz @ X 11. Profit maximization using total cost and total revenue curves PROFILE Suppose Jayden operates a handicraft pop-up retail shop that sells rompers. Assume a perfectly competitive market structure for rompers with a market price equal to $25 per romper. ORDERS The following graph shows Jayden's total cost curve. X1 RV RS Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for rompers for quantities zero through (el seven (including zero and seven) that Jayden produces. Study tools o Total Revenue Total Cost o Career Success Tips A Profit LN @ College Success Tips [ ] 12 TOTAL COST AND REVENUE (Dollars) d Safari File Edit View History Bookmarks Window Help (1 S Wed Apr3 2:16PM ng.cengage.com &% MindTap - Cengage Learning R Course Hero L . 2 CENGAGE ' MINDTAP Q Search this course .~ Module Five Quiz @ X Total Revenue Total Cost o A PROFILE ORDERS RENTALS TOTAL COST AND REVENUE (Dollars) COURSES v 4 QUANTITY (Rompers) Study tools Calculate Jayden's marginal revenue and marginal cost for the first seven rompers they produce, and plot them on the following graph. Use the blue Career Success Tips points (circle symbol) to plot marginal revenue and the orange points (square symbol) to plot marginal cost at each quantity. LN @ College Success Tips [ ] 12 o Marginal Revenue d Safari File Edit View History Bookmarks Window Help (1 S WedApr3 2:16PM ng.cengage.com &% MindTap - Cengage Learning R Course Hero enshot P 7+ CENGAGE | MINDTAP Q Search this course ..16.03PM Module Five Quiz @ X | Calculate Jayden's marginal revenue and marginal cost for the first seven rompers they produce, and plot them on the following graph. Use the blue ' RN points (circle symbol) to plot marginal revenue and the orange points (square symbol) to plot marginal cost at each quantity. RV PROFILE () @ ORDERS RENTALS o v COURSES Marginal Revenue o Marginal Cost Study tools Career Success Tips o E S g a 2 = (=3 w 2 z w > ) o a z SIGN ouT ] Jayden's profit is maximized when they produce a total of rompers. At this quantity, the marginal cost of the final romper they produce , an amount W than the price received for each romper they sell. At this point, the marginal cost of producing one more romper d Safari File Edit View History Bookmarks Window Help (1 S WedApr3 2:16PM ng.cengage.com &% MindTap - Cengage Learning R Course Hero enshot P 7+ CENGAGE | MINDTAP Q Search this course ..16.03PM Module Five Quiz @ X w & Marginal Revenue senshot PROFILE ....10PM o ORDERS Marginal Cost RENTALS COURSES v @ 8 2 & S 3 Q w =1 - w = w o o Z SIGN ouT ] (el LEN T Save & Continue Continue without saving