Maria manages a bakery that specializes in ciabatta bread, ans she has the following information on the bakery’s demand and costs:
Bread sold per hour (Q) |
Price (P) |
Total Cost (TC) |
0 |
$6.00 |
$3.00 |
1 |
5.50 |
7.00 |
2 |
5.00 |
10.00 |
3 |
4.50 |
12.50 |
4 |
4.00 |
14.50 |
5 |
3.50 |
16.00 |
6 |
3.00 |
17.00 |
7 |
2.50 |
18.50 |
8 |
2.00 |
21.00 |
b.) What is the marginal revenue Maria recieves from selling the profit-maximizing quantity of ciabatta bread? What is the marginal cost of producing the profit-maximizing quantity of ciabatta bread?