Word File Edit View Insert Format Tools Table Window Help 28 8 91% Tue 8:35 PM Q DE wecon assingment 2 Q Search in Document Home Insert Draw Design Layout References Mailings Review View Table Design Layout o+ Share Times New R... . 12 A - A Aa A AaBbCcDdE AaBbCcDdE AaBbCcDdE AaBbCcDdE AaBbCcDdi AaBbCc AaBbCcDdE Paste B I U abe X2 X2 AL . A . = = = =1. letter_bullet letter_bullet_.. Normal number_bullet No Spacing Heading 1 Heading 2 Styles Pane 6. Suppose that the marginal cost of making a special coffee mug is constant at $7 per unit, and there is no fixed cost. # sold Price TR MR AR TC MC Profit 0 16 0 0 0 7 2 15 30 15 15 7 4 14 56 13 14 7 6 13 78 11 13 7 8 12 96 9 12 7 10 11 110 7 11 7 12 10 120 5 10 7 14 9 126 3 9 7 16 128 8 7 18 126 -1 20 120 6 a Complete the columns for total revenue, marginal revenue, average revenue, total cost, marginal cost, and profit. (6 marks) b. At what price and output level will the above firm maximize its profit? Explain your answer. (2 marks) Firms will maximize profit when marginal revenue equals margincal cost which would be at quanitity of 10 sold. 7 . Suppose that Firm A and Firm B are two of the largest producers of a special pool- planning robot Cannons that the marginal ant of making such a robot is annatent at Page 6 of 10 2578 words English (Canada) Focus + 150% 2,317 JAN 12 W