16. The data given in the table to the right are for Lane, the only vendor of brick oven baked goat cheese and avocado pizzas at a sporting event. Q is the number of pizzas sold each hour, P is the price in dollars and TR is the total revenue (just P X Q). If the vendor determines that her profit maximizing price per pizza is $15 then her marginal cost for each pizza must be:
  1. over $6 but no more than $8.
  2. over $8 but no more than $10.
  3. over $10 but no more than $12.
  4. over $12 but no more than $14.
  5. over $14 but no more than $15.
Lane's Brick Oven Pizza
Q P TR
1 20 20
2 19 38
3 18 54
4 17 68
5 16 80
6 15 90
7 14 98
8 13 104

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