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Use the Figure Below to Answer the Following Question

Question 26

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Use the figure below to answer the following question.
Use the figure below to answer the following question. Figure 13.2.4 -Refer to Figure 13.2.4. Grannie's is the only cake bakery on Coastal Island. The graph shows Grannie's demand curve, marginal revenue curve, and marginal cost curve. Grannie's profit-maximizing price is ________ a cake and its profit-maximizing output is ________ cakes a week. A) $28; 12 B) $16; 12 C) $36; 2 D) $16; 24 E) $24; 16
Figure 13.2.4
-Refer to Figure 13.2.4. Grannie's is the only cake bakery on Coastal Island. The graph shows Grannie's demand curve, marginal revenue curve, and marginal cost curve. Grannie's profit-maximizing price is ________ a cake and its profit-maximizing output is ________ cakes a week.


A) $28; 12
B) $16; 12
C) $36; 2
D) $16; 24
E) $24; 16

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