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The table below contains some revenue and cost data for the Rising Moon T-shirt Company (quantities for packets of a dozen shirts), which is in
The table below contains some revenue and cost data for the Rising Moon T-shirt Company (quantities for packets of a dozen shirts), which is in long-term equilibrium. a. Complete the blanks in the following table. Round your answers in the "AC" column to 2 decimal places. Quantity Price / 61 TR $/ 61 MR / 61 TC $119 151 MC 1 321 AC / 151 1 2 2 59 118 57 178 27 3 57 171 53 207 29 4 55 220 49 238 311 89 69 59.50 54.20 51 5 5 265 45 271 33 6 53 51 49 41 306 35 306 343 376 37 343 7 8 37 49 47.75 47 33 382 41 b. What is the profit-maximizing price and output for Rising Moon? Price: $ 49 Output: c. At the profit-maximizing output, what are MC and MR? MC: $ MR: $ d. At the profit- maximizing output, what are AC and AR? Round your AC answer to 2 decimal places. AC: $ AR: $ e. Given your answers above, what type of market must Rising Moon be operating in? Rising Moon must be operating in a (Click to select)
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