Taylor gets smart and realizes that she is the only cake shop around. Calculate the marginal revenue she gets for each additional sale as the change in total revenue (price times sales). Graph this and give the new quantity of sales and the new price. Note that you will need to estimate the new price from the graph because there is not an exact match of integral number of slices.
The new quantity is 5 slices and the new price is $23.62.
|
MU
|
TR
|
MR
|
|
$36.00
|
$36.00
|
$36.00
|
|
$32.40
|
$64.80
|
$28.80
|
|
$29.16
|
$87.48
|
$22.68
|
|
$26.24
|
$104.96
|
$17.48
|
|
$23.62
|
$118.10
|
$13.14
|
|
$21.26
|
$127.56
|
$9.46
|
|
$19.13
|
$133.91
|
$6.35
|
|
$17.22
|
$137.76
|
$3.85
|
|
$15.50
|
$139.50
|
$1.74
|
|
$13.95
|
$139.50
|
$0.00
|
|
$12.55
|
$138.05
|
-$1.45
|
|
$11.30
|
$135.60
|
-$2.45
|
|
$10.17
|
$132.21
|
-$3.39
|
|
$9.15
|
$128.10
|
-$4.11
|
Is this correct? I saw something different online but I think mine is correct I just wanted to make sure.