(Answered) 6. (10 points) Beatrice’s Birthday Cakes operates in a monopolistically competitive market. The…

6. (10 points) Beatrice’s Birthday Cakes operates in a monopolistically competitive market. The following table presents cost and revenue data for birthday cakes at Beatrice’s.
Finish filling out the table.
What is the profit-maximizing output for Beatrice’s Birthday Cakes?
When maximizing profit, what price does Beatrice charge for a cake?
At the profit-maximizing quantity, what is Beatrice’s total profit?
How many competitors does Beatrice likely have?
Costs
Revenues
Quantity Produced (Units)
Total Cost ($)
Marginal Cost ($)
Quantity Demanded (Units)
Price ($/ unit)
Total Revenue ($)
Marginal Revenue ($)
0
25
–
0
60
–
1
28
1
54
2
32
2
48
3
37
3
46
4
43
4
36
5
50
5
30
6
58
6
24
7
67
7
18
8
77
8
12