Economics (7th Edition) (What's New in Economics)
7th Edition
ISBN: 9780134738321
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Question
Chapter 13, Problem 13.2.4PA
Subpart (a):
To determine
Profit maximizing output and the marginal revenue at the level.
Subpart (b):
To determine
Profit maximizing output and the marginal revenue at the level.
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Students have asked these similar questions
Maria manages a bakery, that specializes in
ciabatta bread, and has the following information
on demand and costs:
Ciabatta Bread Sold Per Price
Total Cost
Hour (Q)
(P)
(TC)
$6.00
$1.50
1
5.50
5.00
2
5.00
7.50
3
4.50
9.50
4
4.00
11.00
3.50
12.00
6
3.00
12.50
7
2.50
13.50
8
2.00
15.50
a. To maximize profits, Maria should sell
loaves of ciabatta bread per hour. (Enter
your response as an integer.)
Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs:
Ciabatta Bread Sold Price (P)
Per Hour (Q)
0
123 456
7
8
$6.00
5.50
5.00
4.50
4.00
3.50
3.00
2.50
2.00
Total
Cost (TC)
$2.00
6.00
9.00
11.50
13.50
15.00
16.00
17.50
20.00
loaves of ciabatta bread per hour. (Enter your response as an integer.)
a. To maximize profits, Maria should sell
Maria should charge a price of $ (Enter your response rounded to two decimal places.)
Maria's maximum profit is $
(Enter your response rounded to two decimal places.)
b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is $ (Enter your response rounded to two decimal places.) The marginal cost when selling
the profit-maximizing number of loaves of ciabatta bread is $. (Enter your response rounded to two decimal places.)
Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs:
Ciabatta Bread Sold
Price
Total Cost
Per Hour (Q)
(P)
(TC)
$1.50
$6.00
1
5.50
6.00
5 00
4 50
9.50
3
12.50
4.00
15.00
5
3.50
17.00
6
3.00
18.50
7
2.50
20.50
8
2.00
23.50
a. To maximize profits, Maria should sell loaves of ciabatta bread per hour. (Enter your response as an integer.)
Maria should charge a price of $ (Enter your response rounded to two decimal places.)
Maria's maximum profit is S
(Enter your response rounded to two decimal places.)
b. The marginal revenue when selling the profit-maximizing number of loaves of ciabatta bread is S: (Enter your response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is S (Enter your
response rounded to two decimal places.)
Chapter 13 Solutions
Economics (7th Edition) (What's New in Economics)
Ch. 13 - Prob. 13.1.1RQCh. 13 - Prob. 13.1.2RQCh. 13 - Prob. 13.1.3RQCh. 13 - Prob. 13.1.4PACh. 13 - Prob. 13.1.5PACh. 13 - Prob. 13.1.6PACh. 13 - Prob. 13.1.7PACh. 13 - Prob. 13.1.8PACh. 13 - Prob. 13.1.9PACh. 13 - Prob. 13.1.10PA
Ch. 13 - Prob. 13.2.1RQCh. 13 - Prob. 13.2.2RQCh. 13 - Prob. 13.2.3RQCh. 13 - Prob. 13.2.4PACh. 13 - Prob. 13.2.5PACh. 13 - Prob. 13.2.6PACh. 13 - Prob. 13.2.7PACh. 13 - Prob. 13.2.8PACh. 13 - Prob. 13.2.9PACh. 13 - Prob. 13.3.1RQCh. 13 - Prob. 13.3.2RQCh. 13 - Prob. 13.3.3RQCh. 13 - Prob. 13.3.4RQCh. 13 - Prob. 13.3.5PACh. 13 - Prob. 13.3.6PACh. 13 - Prob. 13.3.7PACh. 13 - Prob. 13.3.8PACh. 13 - Prob. 13.3.9PACh. 13 - Prob. 13.3.10PACh. 13 - Prob. 13.3.11PACh. 13 - Prob. 13.3.12PACh. 13 - Prob. 13.4.1RQCh. 13 - Prob. 13.4.2RQCh. 13 - Prob. 13.4.3RQCh. 13 - Prob. 13.4.4RQCh. 13 - Prob. 13.4.5PACh. 13 - Prob. 13.4.6PACh. 13 - Prob. 13.4.7PACh. 13 - Prob. 13.4.8PACh. 13 - Prob. 13.4.9PACh. 13 - Prob. 13.5.1RQCh. 13 - Prob. 13.5.2RQCh. 13 - Prob. 13.5.3PACh. 13 - Prob. 13.5.4PACh. 13 - Prob. 13.5.5PACh. 13 - Prob. 13.5.6PACh. 13 - Prob. 13.5.7PACh. 13 - Prob. 13.6.1RQCh. 13 - Prob. 13.6.2RQCh. 13 - Prob. 13.6.3PACh. 13 - Prob. 13.6.4PACh. 13 - Prob. 13.6.5PACh. 13 - Prob. 13.6.6PACh. 13 - Prob. 13.1CTECh. 13 - Prob. 13.2CTECh. 13 - Prob. 13.3CTE
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Similar questions
- Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs: Ciabatta Bread Sold Per Hour (Q) Price (P) Total Cost (TC) 0 $6.00 $1.50 1 5.50 6.00 2 5.00 9.50 3 4.50 12.50 4 4.00 15.00 5 3.50 17.00 6 3.00 18.50 7 2.50 20.50 8 2.00 23.50 a. To maximize profits, Maria should sell nothing loaves of ciabatta bread per hour. (Enter your response as an integer.)arrow_forwardCentral Grocery in New Orleans is famous for its muffaletta, a large round sandwich filled with deli meats and topped with a tangy olive salad. Suppose the following table represents cost and revenue data for Central Grocery. Muffaletta Sold per Day Price (P) Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC) Profit 0 $15 $12 1 14 18 2 13 20 3 12 21 4 11 23 5 10 26 6 9 30 7 8 35 8 7 42 9 6 52 10 5 78 Fill in the table What are the profit-maximizing price and quantity, and what…arrow_forwardThe economic profit is $3000, Total revenue is $5000, explicit cost is $800 Calculate implicit costarrow_forward
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