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The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firm producing different quantities of apple pies.The
The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firm producing different quantities of apple pies.The market price of apple pies is $6.00 per pie.
a. Fill in the marginal revenue (MR) and average revenue (AR) columns.
Instructions: Round your answers to two decimal places.
Baker Street's Costs and Revenues
Quantity (apple pies) | TC (dollars) | MC (dollars) | MR (dollars) | AR (dollars) |
10 | $55.00 | $3.00 | $ | $ |
15 | 67.50 | 2.50 | ||
20 | 82.50 | 3.00 | ||
25 | 102.50 | 4.00 | ||
30 | 132.50 | 6.00 | ||
35 | 172.50 | 8.00 |
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