The table below contains some revenue and cost data for the Rising Moon T-shirt Company (quantities for packets of a dozen shirts), which is in long-term equilibrium.
a. Complete the blanks in the following table. Round your answers in the “AC” column to 2 decimal places.
b. What is the profit-maximizing price and output for Rising Moon?
c. At the profit-maximizing output, what are MC and MR?
d. At the profit-maximizing output, what are AC and AR? Round your AC answer to 2 decimal places.
e. Given your answers above, what type of market must Rising Moon be operating in?
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