Question: Table 4.3 shows marginal cost, MC, and marginal revenue, MR. (a) Use the marginal cost and marginal revenue at a production of q = 5000

Table 4.3 shows marginal cost, MC, and marginal revenue, MR.

Table 4.3 q MR MC 5000 6000 60 58 48 52 7000 (a) Use the marginal cost and marginal revenue at a production of q = 5000 to determine whether production should be increased or decreased from 5000.(b) Estimate the production level that maximizes profit.

Table 4.3 q MR MC 5000 6000 60 58 48 52 7000 8000 9000 56 55 54 54 55 58 10,000 53 63

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