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.
Definitions:
Unused Capacity
The available production capability that is not being utilized by a company.
Capacity
It is the maximum level of output that a company can sustain to produce in a given period under normal conditions.
Job-Order Costing
A costing methodology that calculates the cost of individual jobs or batches, useful in manufacturing or service industries where jobs are distinct and have varying requirements.
Automated Shaper
A machine tool that uses computer control to shape or cut materials with precision, often used in manufacturing.
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