The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely competitive firm producing different quantities of chocolate gift boxes.The market price for a box of chocolates is $7 per box.

Instructions: Enter your answers as a whole number.

a. Fill in the marginal revenue (MR) and average revenue (AR) columns.

Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. A loss should be entered as a negative number.

b. Given a price of $7 per gift box,how many boxes of chocolate should Choco Lovers produce?

gift boxes

What will the profit or loss be per gift box?

$ per gift box

c.Suppose thatChoco Loversraises the price to $9 per gift box. Now how many boxes shouldChoco Loversproduce?

gift boxes

What will thenew profit or loss be per gift box?

Module 4A Homework Assignment i Saved Help Save & Exit Submit You received partial credit in the previous attempt. View previous attempt Check my work 7 IIISHULLIVIIS. LEILEI YOUI alISWEIS as a WIIVIC HIMINICI. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Choco Lovers Cost and Revenue 10 points Quantity of Gift Boxes TC ($) MC ($) MR ($) AR ($) 20 135 6 7 7 25 162 5.50 7 7 eBook 30 192 6 7 7 Print 35 227 7 7 References 40 272 9 7 7 45 327 11 7 Instructions: For profit/loss, round your answers to two decimal places. If you are entering any negative numbers be sure to include a Mc Graw Hill