Please. The table below represents a production schedule for Quincy’sQuiche Corner, a restaurant in a mall that sells quiches. AssumeQuincy’s operates in a perfectly competitive environment (in bothinput and output markets), so it is both a price-taker and awage-taker. a) Fill in the missing values in the table, assuming the sellingprice per quiche is $3. WorkersOutput (quiches)Marginal Product Value of MarginalProduct 0 0 1 10 10 $30 2 18 _____ $24 3 24 6 _____ 4 28 _____ $12 5 30 _____ _____ 1) Total Revenue equals price ($3) multiplied by the number ofquiches produced per hour. Quincy’s has total fixed cost equal to$18 per hour. Total cost is equal to labor costs (wage ratemultiplied by the number of workers employed) plus total fixedcost. Profit is equal to Total Revenue minus Total Cost. Calculatethe firm’s total revenue (TR), total cost (TC), and profit,assuming it is a profit maximizer. TR = $ TC = $ Profit = $ . . .
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