Micro Economics

Score: 0 of 1 pt 5 of 20 (4 complete) Text Problem 23-4c The table below represents the hourly output and cost structure for a local pizza shop. The market is perfectly competitive, and the market price of a pizza in the area is $12. Tot the pizza shop's marginal cost and marginal revenue at each rate of output and fill in the values in the table. Total Hourly Output Total Hourly Total Total Economic Marginal Marginal and Sales of Pizzas Cost ($) Revenue ($) Profit ($) Cost ($) Revenue ($) 0 12 AC 12 10 24 14 2 12 11 36 25 12 13 48 35 17 60 43 23 72 49 31 84 53 41 96 55 10 12 53 108 55 12 12 69 120 51 16 12 Based on marginal analysis, what is the profit-maximizing rate of output for the pizza shop? |pizzas