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The table below represents the hourly output and cost structure for a local piza shop. The market is perfectly competitive, and the market price of
The table below represents the hourly output and cost structure for a local piza shop. The market is perfectly competitive, and the market price of a pizza in the area is $8. Total costs include all implicit opportunity costs. Calculate the pizza shop's marginal cost and marginal revenue at each rate of output and ll in the values in the table. Total Hourly Output Total Hourly Total Total Economic Marginal Marginal and Sales of Pizzas Cost ($) Revenue ($) Profit ($) Cost ($) Revenue ($) 0 5 0 0 1 9 8 - 1 2 11 16 5 3 12 24 12 4 14 32 18 5 18 40 22 6 24 48 24 7 32 56 24 8 42 64 22 9 54 72 18 10 70 80 10
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