Central Grocery in New Orleans Is Famous for Its Muffaletta,a

Essay

Central Grocery in New Orleans is famous for its muffaletta,a large round sandwich filled with deli meats and topped with a tangy olive salad.Suppose the following table represents cost and revenue data for Central Grocery.Fill in the columns for TR,MR,MC,ATC,and profit.If Central Grocery wants to maximize profits,what price should it charge for a muffaletta,what quantity should it sell,and what will be the amount of its total profit?
$\begin{array}{|c|c|c|c|c|c|c|c|}\hline \begin{array}{c}\text { Muffalettas } \\\text { Sold per } \\\text { Day }\end{array} & \begin{array}{c}\text { Price } \\(\boldsymbol{P})\end{array} & \begin{array}{c}\text { Total } \\\text { Revenue } \\(\boldsymbol{T R})\end{array} & \begin{array}{c}\text { Marginal } \\\text { Revenue } \\(\boldsymbol{M R})\end{array} & \begin{array}{c}\text { Total } \\\text { Cost } \\(\boldsymbol{T} \boldsymbol{C})\end{array} & \begin{array}{c}\text { Average } \\\text { Marginal } \\\text { Cost }(\boldsymbol{M C})\end{array} & \begin{array}{c}\text { Total Cost } \\(\boldsymbol{A} \boldsymbol{T} \boldsymbol{C})\end{array} & \text { Profit } \\\hline 0 & \$ 15 & & & \$ 12 & & & \\\hline 1 & 14 & & & 18 & & & \\\hline 2 & 13 & & & 20 & & & \\\hline 3 & 12 & & & 21 & & & \\\hline 4 & 11 & & & 23 & & & \\\hline 5 & 10 & & & 26 & & & \\\hline 6 & 9 & & & 30 & & & \\\hline 7 & 8 & & & 35 & & & \\\hline 8 & 7 & & & 42 & & & \\\hline 9 & 6 & & & 52 & & & \\\hline 10 & 5 & & & 78 & & & \\\hline\end{array}$