Text Problem 24-1bcQuestion Help vGiven the information in the table at right, calculate the dry cleaner's marginalrevenue (MR) and marginal cost (MC) at each output level. (Your answershould be rounded to the nearest cent.)Price TotalOutput(SuitsCleaned) Suit ($) (S)TotalCosts Revenue(S)perMC ($) MR ($)8.003.000.0017.506.007.5027.008.5014.0036.5010.5019.5046.0011.5024.0055.5013.5027.5065.0016.0030.004.5019.0031.5084.0024.0032.00OOD D IOOD

Text Problem 24-1bc Question Help * 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 Price Total Total Costs Revenue (Suits per Cleaned) Suit (S) (5) 8.00 3.00 (S) MC (S) MR (S) 0.00 7.50 6.00 7.50 2 7.00 8.50 14.00 6.50 10.50 19.50 6.00 11.50 24.00 5.50 13.50 27.50 5.00 16.00 30.00 4.50 19.00 31.50 4.00 24.00 O O 32.00

Text Problem 24-1bc Question Help * 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 Price Total Total Costs Revenue (Suits per Cleaned) Suit (S) (5) 8.00 3.00 (S) MC (S) MR (S) 0.00 7.50 6.00 7.50 2 7.00 8.50 14.00 6.50 10.50 19.50 6.00 11.50 24.00 5.50 13.50 27.50 5.00 16.00 30.00 4.50 19.00 31.50 4.00 24.00 O O 32.00

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: The Cost Of Production

Section: Chapter Questions

Problem 1CQQ

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