1. Marcel's Bakery makes authentic French baguettes in a perfectly competitive market. There are 30 identical...

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1. Marcel's Bakery makes authentic French baguettes in a perfectly competitive market. There are 30 identical companies in his region. 0 10 20 30 40 50 60 ii. iii. ATC iv. 4 3.2 2.3 2.4 2.7 3 TC TR VC a. The current market price for one baguette is 3.30. All companies have fixed costs of 30 and average total costs (ATC) as given in the table above. i. Compute the total revenue (TR), the marginal cost (MC) and the average variable cost (AVC) and fill those in the table above. [3 points] Calculating total cost (TC) and variable cost (VC) may be necessary. How many baguettes should Marcel's Bakery produce at the given price in order to maximize its profit? [2 points] Number of baguettes produced = MC AVC How much total profit does Marcel's Bakery make? [2 points] Total Profit= What is the total quantity supplied in the whole market? [1 point] Total quantity supplied = 1. Marcel's Bakery makes authentic French baguettes in a perfectly competitive market. There are 30 identical companies in his region. 0 10 20 30 40 50 60 ii. iii. ATC iv. 4 3.2 2.3 2.4 2.7 3 TC TR VC a. The current market price for one baguette is 3.30. All companies have fixed costs of 30 and average total costs (ATC) as given in the table above. i. Compute the total revenue (TR), the marginal cost (MC) and the average variable cost (AVC) and fill those in the table above. [3 points] Calculating total cost (TC) and variable cost (VC) may be necessary. How many baguettes should Marcel's Bakery produce at the given price in order to maximize its profit? [2 points] Number of baguettes produced = MC AVC How much total profit does Marcel's Bakery make? [2 points] Total Profit= What is the total quantity supplied in the whole market? [1 point] Total quantity supplied =

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To answer the question we need to first complete the table with the given information a i Quantity T... View the full answer