Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand...
Maria manages a bakery, that specializes in ciabatta bread, and has the following information on demand and costs:
|
Ciabatta Bread Sold Per Hour (Q) |
Price (P) |
Total Cost (TC) |
|
0 |
$6.00 |
$1.50 |
|
1 |
5.50 |
5.00 |
|
2 |
5.00 |
7.50 |
|
3 |
4.50 |
9.50 |
|
4 |
4.00 |
11.00 |
|
5 |
3.50 |
12.00 |
|
6 |
3.00 |
12.50 |
|
7 |
2.50 |
13.50 |
|
8 |
2.00 |
15.50 |
a. To maximize profits, Maria should sell ____loaves of ciabatta bread per hour. (Enter your response as an integer.)
Homework Answers
The profit-maximizing condition is
MR=MC
Corresponding to this condition profit-maximizing quantity is 6 units.
To maximize profits, Maria should sell __6__loaves of ciabatta bread per hour.
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