Please give me correct answer with calculation and full explanation otherwise i give multiple downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firmproducing different quantities of apple pies. The market price of apple pies is $12.00 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 RevenuesQuantity(apple pies)MRTC (dollars)MC (dollars)(dollars)15$155.00$9.00$AR(dollars)$20197.508.5025242.509.0030292.5010.0035352.5012.0040422.5014.00Instructions: Enter your answers as a whole number.b. At the market price of $12.00 per apple pie, how many apple pies should Baker Street make?apple piesc. If the market price for apple pies were to rise to $14.00 per apple pie, how many apple pies should Baker Streetmake?apple pies

It is a market structure where many small firms compete. No single firm has control over the market…

Baker Street's Costs and Revenues Quantity (apple pies) MR AR TC (dollars) MC (dollars) (dollars) 15 $155.00 $9.00 $ (dollars) $ 20 197.50 8.50 25 242.50 9.00 30 292.50 10.00 35 352.50 12.00 40 422.50 14.00 Instructions: Enter your answers as a whole number. b. At the market price of $12.00 per apple pie, how many apple pies should Baker Street make? apple pies c. If the market price for apple pies were to rise to $14.00 per apple pie, how many apple pies should Baker Street make? apple pies

Baker Street's Costs and Revenues Quantity (apple pies) MR AR TC (dollars) MC (dollars) (dollars) 15 $155.00 $9.00 $ (dollars) $ 20 197.50 8.50 25 242.50 9.00 30 292.50 10.00 35 352.50 12.00 40 422.50 14.00 Instructions: Enter your answers as a whole number. b. At the market price of $12.00 per apple pie, how many apple pies should Baker Street make? apple pies c. If the market price for apple pies were to rise to $14.00 per apple pie, how many apple pies should Baker Street make? apple pies

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter12: Firms In Perfectly Competitive Markets

Section: Chapter Questions

Problem 9P

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