The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table.

Quantity	Price	Total REVENUE	TOTAL COST	MARGINAL COST	MARGINAL REVENUE
0	$19	$0	$30	-	-
25	18	450	205	$7
30		510	237.5	6.5	12
35	16		272.5		10
40	15	600	312.5	8	8
45	14	630		10
50	13	650	422.5	12	4

INSTRUCTIONS; ENTER YOUR ANSWERS AS WHOLE NUMBERS. FOR PROFIT, ROUND YOUR ANSWER TO 2 DECIMAL PLACES.

Profit -Maximizing quantity=

Profit-maximizing price=

Profit =

Answer rating: 100% (QA)

Working notes 1 Total revenue TR Price x Quantity Q there... View the full answer