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Homework answers / question archive / Maria manages a bakery, that specializes in aabatta bread, and has the following information on demand and costs Ciabatta Bread Sold Per Hour (Q) Price (P) Total Cost (TC) S600 550 82 50 600 2 500 850 3 450 10 50 4 400 12 00 5 350 13 00 6 300 13 50 7 250 14 50 8 200 16 50  a

Maria manages a bakery, that specializes in aabatta bread, and has the following information on demand and costs Ciabatta Bread Sold Per Hour (Q) Price (P) Total Cost (TC) S600 550 82 50 600 2 500 850 3 450 10 50 4 400 12 00 5 350 13 00 6 300 13 50 7 250 14 50 8 200 16 50  a

Management

Maria manages a bakery, that specializes in aabatta bread, and has the following information on demand and costs Ciabatta Bread Sold Per Hour (Q) Price (P) Total Cost (TC) S600 550 82 50 600 2 500 850 3 450 10 50 4 400 12 00 5 350 13 00 6 300 13 50 7 250 14 50 8 200 16 50 
a. To maximize profits, Maria should sell loaves of aabatta bread per hour (Enter your response as an integer) 
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Matta should charge a price of . (Enter your response rounded to two decimal place   Ques  Mana's maximum profit is $11] (Enter your response rounded to hvo decimal places.) 'n 'ewer b. The marginal revenue when selling the profit-maximizing number of loaves of aabatta bread is $O. (Enter your response rounded to two decimal places.) The marginal cost when selling the profit-maximizing number of loaves of ciabatta bread is SL. (Enter your response rounded to two decimal places) 
 

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Q P($) TC($) MC($) TR($) MR($) Profit($)
0 6 2.5 - 0 - -2.5
1 5.5 6 3.5 5.5 5.5 -0.5
2 5 8.5 2.5 10 4.5 1.5
3 4.5 10.5 2 13.5 3.5 3
4 4 12 1.5 16 2.5 4
5 3.5 13 1 17.5 1.5 4.5
6 3 13.5 0.5 18 0.5 4.5
7 2.5 14.5 1 17.5 -0.5 3
8 2 16.5 2 16 -1.5 -0.5

 

Marginal Cost = Change in Total Cost/Change in Total Quantity

Marginal Revenue = Change in Total Revenue/Change in Total Quantity

Total Revenue = Price*Quantity

Profit = Total Revenue - Total Cost

 

a) To maximize profit, the firm should produce at MR=MC or the closet lower MC.

So, Maria should sell  6 loaves of ciabatta bread per hour. 

Maria should charge a price of $3.

Maria's minimum profit is $4.5

 

b) The marginal revenue when selling the profit maximizing number of loaves is 0.5

 

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