Question

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 (Suits per Tota Total 0.00 11.50 11.0 8.50 22.00 D .50 Cleaned) Suit ($) Costs ($) Revenue (S) MC (S) MR (S) 12.00 3.00 11.50 6.00 10.50 10.50 31 10.00 11.5040.00D 9.50 13.50 47.50 9.00 20.00 54.00 8.50 28.00 59.50 □ □ 8.00 32.00 64.00 D

Answer 1

Output	Price	TC	TR	MC	MR
0	12	3	0	3	0
1	11.5	6	11.5	3	11.5
2	11	8.5	22	2.5	10.5
3	10.5	10.5	31.5	2	9.5
4	10	11.5	40	1	8.5
5	9.5	13.5	47.5	2	7.5
6	9	20	54	6.5	6.5
7 8	8.5 8	28 32	59.5 64	8 4	5.5 4.5