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The table below shows the marginal cost (MC) for The Tea Shop, a perfectly competitive firm producing different quantities of tea. The market price of

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The table below shows the marginal cost (MC) for The Tea Shop, a perfectly competitive firm producing different quantities of tea. The market price of tea is $10.00 a box Instructions: In part around your answers to two decimal places. In part b, enter your answer as a whole number a. Complete the marginal revenue (MR) column in the table below The Tea Shop's Costs and Revenues Quantity Marginal Cost Marginal Revenue (tea) (dollars) (dollars) 50 $7.00 75 6.00 100 5.00 125 6.50 150 10.00 175 15.50 1 200 22.50 225 31.50 b. At a market price of $10.00 per box of tea, how many boxes of tea should The Tea Shop supply? boxes a. Complete the marginal revenue (MR) column in the table below. The Tea Shop's Costs and Revenues Quantity Marginal Cost Marginal Revenue (tea) (dollars) (dollars) 50 $7.00 75 6.00 100 5.00 125 6.50 150 19.00 175 15.50 200 22.50 225 31.50 b. At a market price of $10.00 per box of tea, how many boxes of tea should The Tea Shop supply? boxes in the market price and c. Suppose there is an increase in demand. The likely effect on the market will be (Click to select) (Click to select in the quantity produced by The Tea Shop

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