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(Solved): The graph to the right depicts the demand for caffe lattes at a local coffeehouse along with the ave ...
The graph to the right depicts the demand for caffe lattes at a local coffeehouse along with the average total cost and marginal cost of producing lattes. Suppose the coffeehouse is in a monopolistically competitive market in the short run.
Part 2
How many caffe lattes should this coffeehouse produce to maximize profits? 24 units. (Enter a numeric response using an integer.)
Part 3
What is the corresponding profit-maximizing price? $1.60 per latte. (Enter a numeric response using a real number rounded to two decimal places.)
Part 4
Calculate the coffeehouse's profits on caffe lattes.