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:
- over $6 but no more than $8.
- over $8 but no more than $10.
- over $10 but no more than $12.
- over $12 but no more than $14.
- 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 |
|
