The table below contains some

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.

Quantity Price TR MR TC MC AC
0 / $ /    /  $128  / /
1   70   160    
2   136   190    
3   198   230    
4   256   272    
5   310   315    
6   360   360    
7   406   406    
8   448   453    

b. What is the profit-maximizing price and output for Rising Moon?
    Price: $ 


c. At the profit-maximizing output, what are MC and MR?

    MC: $ 

    MR: $ 

d. At the profit-maximizing output, what are AC and AR? Round your AC answer to 2 decimal places.

    AC: $ 

    AR: $ 

e. Given your answers above, what type of market must Rising Moon be operating in?

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