suppose that you produce and sell children's tables in a local market.

gage.com/staticb/ui/evo/index.html?eISBN=9781305648173&snapshotld=2241631&id=1086315163& Paused

)OIS es of CENGAGE I MINDTAP Critical Analysis Questions (Ch 11) 7. Critical analysis Q14 Suppose that you produce and sell childreh's tables in a local market. Past experience enables you to estimate your demand and marginal" cost, schedules. This information is presented in the accompanying table, Complete the following table by computing the total cost of producing each quantity. Then, compute the total revenue earned at each price level and the marginal revenue earned at each price level. Q Search this cou Price Quantity Demanded Fixed Cost Total Cost Margiinal, Cost Total Revenue - Marginal Revenue ($ per table) (Tables per Week) 60 55 50 45 140 35 40 40 40 40 40 65 10, 12 15 19 '24 Assuming you are currently charging $35 per table setnwhatshould you do lif you want to increase profits? O Decrease the price O Leave the price unchanged O Increase the price Given your demand and cost estimates, you should charge a price of if you want to maximiize your weekly profit. At this price, your output will be tables, and you will earn a weekly profit