Question: The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firm producing different quantities of apple pies.

 The table below shows the total cost (TC) and marginal cost

The table below shows the total cost (TC) and marginal cost (MC) for Baker Street, a perfectly competitive firm producing different quantities of apple pies. The market price of apple pies is $5.00 per pie. a. Fill in the marginal revenue (MR) and average revenue (AR) columns. Instructions: Round your answers to two decimal places. Baker Street's Costs and Revenues Quantity MR AR [apple pies) TC (dollars) MC (dollars) (dollars) (dollars) 10 $65.00 $4.00 $ S 15 82.50 3.50 20 102.50 4.00 25 127.50 5.00 30 162.50 7.00 35 207.50 9.00 Instructions: Enter your answers as a whole number. b. At the market price of $5.00 per apple pie, how many apple pies should Baker Street make? apple pies c. If the market price for apple pies were to rise to $7.00 per apple pie, how many apple pies should Baker Street make? apple pies

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