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?
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