The table below depicts the prices and total costs a local? used-book store faces. The bookstore competes with a number of similar stores, but it capitalizes on its location and the word-of-mouth reputation of the coffee it serves to its customers. Calculate the store's total revenue, total profit, marginal revenue, and marginal cost at each level of output, beginning with the first unit?(Enterall values rounded to the nearestpenny.?)
| Output |
Price per Book? ($) |
TotalCosts? ($) |
TotalRevenue? ($) |
TotalProfit? ($) |
Marginal Revenue? ($) |
MarginalCost? ($) |
| 0 |
8.008.00 |
2.002.00 |
nothing |
nothing |
minus- |
minus- |
| 1 |
7.757.75 |
5.255.25 |
nothing |
nothing |
nothing |
nothing |
| 2 |
7.507.50 |
7.507.50 |
nothing |
nothing |
nothing |
nothing |
| 3 |
7.257.25 |
9.609.60 |
nothing |
nothing |
nothing |
nothing |
| 4 |
7.007.00 |
12.1012.10 |
nothing |
nothing |
nothing |
nothing |
| 5 |
6.756.75 |
15.6015.60 |
nothing |
nothing |
nothing |
nothing |
| 6 |
6.506.50 |
19.7519.75 |
nothing |
nothing |
nothing |
nothing |
| 7 |
6.256.25 |
24.5024.50 |
nothing |
nothing |
nothing |
nothing |