1. Giorgio's Brick Oven Pizza is the only pizzeria with a brick oven in town. It is not the only pizza seller so it faces a downward-sloping demand curve.The demand schedule is:

Quantity of Pizzas                Price

 0                                     $20

10                                    16

20                                    12

30                                     8

40                                     4

50                                     0

Draw the demand curve and the corresponding marginal revenue curve. Add a marginal cost curve so that the profit-maximizing price of a Giorgio's pizza will be $14. Add an average total cost curve so that the profit on each pizza is two dollars. Illustrate total profits.