Question: Complete the marginal cost and average cost columns. 3. How much output should the Fibonaccis produce? 4. What price should they charge? 5. What profit

Complete the marginal cost and average cost columns. 3. How much output should the Fibonaccis produce? 4. What price should they charge? 5. What profit will they earn at that price and output? 6. On a piece of graph paper or in MS EXCEL plot the demand curve data, the marginal revenue data and the MC curve data. Use the information in the graph and a bit of interpolation to compute an approximation of the deadweight loss attributable to Finonacci's market power. DWL 2. The cost function for the family business is: Quantity 0 2 Total Cost 12 28 4 36 36 56 56 9 8 10 10 84 116 Marginal Cost Average Cost 1. The demand curve for Fibonacci Family Pizza, which has the monopoly franchise on the campus of the State University, is given by Price 20 18 16 14 12 10 Quantity Demanded Total Revenue 2 + 9 10 0 Marginal Revenue

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