Hand written i'll rate Use the table below to answer questions about Christina's Christmas Wreaths. Christina operates in a perfectly competitive market forwreaths.Christina's Costs and RevenueQuantity Average Variable Average Total(wreaths)Cost (dollars)Cost (dollars)$20.00Marginal Cost(dollars)$20.00Marginal Revenue(dollars)$64.005$25.00618.0022.0022.0064.00724.0028.0064.0064.00829.0032.0060.0064.00936.0039.0095.0064.001049.0052.00169.0064.00Instructions: In part a, enter your answer as a whole number. In parts b and c, round your answers to two decimal places.a. What is the profit-maximizing level of output for Christina's Christmas Wreaths?wreathsb. What is the profit per unit if the profit-maximizing level of output is produced?$c. What is the total economic profit generated by producing the profit-maximizing output?$

In monetary hypothesis, perfect competition happens when all organizations sell indistinguishable…

stina's Costs and Revenue mantity Average Variable Average Total Cost (dollars) Marginal Cost (dollars) Marginal Revenue (dollars) reaths) Cost (dollars) $20.00 5 $25.00 $20.00 $64.00 6 18.00 22.00 22.00 64.00 24.00 28.00 64.00 64.00 29.00 32.00 60.00 64.00 36.00 39.00 95.00 64.00 10 49.00 52.00 169.00 64.00 uctions: In part a, enter your answer as a whole number. In parts b and c, round your answers to two decimal pla hat is the profit-maximizing level of output for Christina's Christmas Wreaths? wreaths hat is the profit per unit if the profit-maximizing level of output is produced? 7 8 9

stina's Costs and Revenue mantity Average Variable Average Total Cost (dollars) Marginal Cost (dollars) Marginal Revenue (dollars) reaths) Cost (dollars) $20.00 5 $25.00 $20.00 $64.00 6 18.00 22.00 22.00 64.00 24.00 28.00 64.00 64.00 29.00 32.00 60.00 64.00 36.00 39.00 95.00 64.00 10 49.00 52.00 169.00 64.00 uctions: In part a, enter your answer as a whole number. In parts b and c, round your answers to two decimal pla hat is the profit-maximizing level of output for Christina's Christmas Wreaths? wreaths hat is the profit per unit if the profit-maximizing level of output is produced? 7 8 9

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 11E

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