Given the information in the table at right, calculate the dry cleaner's marginal revenue (MR) and marginal cost (MC) at each output level. (Your answer should be rounded to the nearest cent.)

 

Output (Suits Cleaned)	Price per Suit ($)	Total Costs ($)	Total Revenue ($)	MC ($)	MR ($)
0	12.0012.00	3.00	0.000.00	minus−	minus−
1	11.5011.50	6.00	11.5011.50	nothing	nothing
2	11.0011.00	8.50	22.0022.00	nothing	nothing
3	10.5010.50	10.50	31.5031.50	nothing	nothing
4	10.0010.00	11.50	40.0040.00	nothing	nothing
5	9.509.50	13.5013.50	47.5047.50	nothing	nothing
6	9.009.00	20.0020.00	54.0054.00	nothing	nothing
7	8.508.50	28.0028.00	59.5059.50	nothing	nothing
8	8.008.00	32.0032.00	64.0064.00	nothing	nothing

Answer rating: 100% (QA)

MC Change in total cost TC Change in output Q MR Change i... View the full answer