Assume this firm operates in a non-competitive environment so that its revenue depends on the market demand. For low production levels, the demand is elastic and revenue increases with production. For high production levels, the demand is inelastic and revenue decreases with production. Second Look Enterprises (SLE) buys old computers, fixes them up, and resells them. Its weekly revenue function is R = 40q - 2q2, so its marginal revenue is MR = 40 - 4q. Its weekly cost function is C = 10q + 0.5q, so its marginal cost is MC = 10 + q. R = -2q~ + 40q C =0.5q2 + 10q MR = -4q + 40 MC = q + 10 Calculate SLE's revenue, cost, and profit for q = 1 to q = 20 in increments of 1. SLE's manager wants to maximize profit. Calculate MR and MC for q = 1 to q = 20 in increments of 1 and verify that MR = MC at the profit-maximizing output level. q R C Profit MR MC W N 112 295 32 102 263 4 -400 16 63 24 131 8 10 26 128 -213 400 72 168 192 150 -32 -40 19 -70 182 20 21 -24 50 150 25 198 78 -28 288 8 80 14 38 23 29 18 198 215 - 333 13 -8 315 80 36 -36 -20 371 -270 -160 12 15 0 88 -33 28 30 192 68 27 90 - 113 342 17 238 3 -12 150 6 -4 -16 35 171 11 200