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The table below represents the hourly output and cost structure for a local pizza shop. The market is perfectly? competitive, and the market price of a pizza in the area is ?$12.
Total costs include all implicit opportunity costs. Calculate the pizza? shop's marginal cost and marginal revenue at each rate of output and fill in the values in the table.
Total Hourly Output and Sales of Pizzas
Total Hourly Cost? ($)
Total Revenue? ($)
Total Economic Profit? ($)
Marginal Cost? ($)
Marginal Revenue? ($)
0
2
1
6
12
8
24
16
3
9
36
27
4
11
48
37
5
15
60
45
21
72
51
7
29
84
55
39
96
57
108
10
67
120
53
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