Operations in the Short Run Exercise 3 (Algo) The table below shows the marginal cost (MC) for The Tea Shop, a perfectly competitive firm producing different quantities of tea. The market price of tea is $10.00 a box. Instructions: In part a, round your answers to two decimal places. In part b, enter your answer as a whole number. a. Complete the marginal revenue (MR) column in the table below. ook The Tea Shop's Costs and Revenues Quantity Marginal Cost Marginal Revenue Print (tea) (dollars) dollars) 50 $7. 00 In 75 6.00 100 5.00 erences 125 6. 50 150 10 .00 175 15 . 50 200 22.50 225 31.50 b. At a market price of $10.00 per box of tea, how many boxes of tea should The Tea Shop supply? 150 boxes c. Suppose there is an increase in demand. The likely effect on the market will be |an increase in the market price and an increase in the quantity produced by The Tea Shop