Clipboard Algement 4. Cal's son is studying in the MBA program at UMUC. He tells his father that profit maximization occurs when the marginal cost (MC) - marginal revenue (MR). Cal understands that his marginal cost is the same as this variable cost or $2.649 per gallon. Technically, marginal cost is the added cost from selling one more on Gallons sold per Daily Profit Price Revenue price alas Profit Manimation Variable Cost per Gallon Cost cost per unit volume) $ 2.649 $9536.40 Fixed cost per Total Costi Variable) day dey $ 9,932.40 Calasks you for a chart to show how profits vary with sales volume, assuming that he sells an additional 400 gallons for each 1 cent decrease in price. Also, he wants to know how much he can lower his price without losing money. $ 250.00 $ 786.40 S 146.00 3D 4000 4400 $ S $ 2.799 2.749 2.739 Given that you know the price and quantity of callons sold so far, and that call's cost per gallon is $2.649 per gallan and his faced cost is $250 per day, complete the table to the right 2.719 2. 1 2.600 6000 $ 2.69 $ S 2.659 2640 5. Once you calculate total profit, what is the profit maximizing price Supply and Demand Graph Supply and Demand Graph Profit Maximization Profit Maximization Clipboard Algement 4. Cal's son is studying in the MBA program at UMUC. He tells his father that profit maximization occurs when the marginal cost (MC) - marginal revenue (MR). Cal understands that his marginal cost is the same as this variable cost or $2.649 per gallon. Technically, marginal cost is the added cost from selling one more on Gallons sold per Daily Profit Price Revenue price alas Profit Manimation Variable Cost per Gallon Cost cost per unit volume) $ 2.649 $9536.40 Fixed cost per Total Costi Variable) day dey $ 9,932.40 Calasks you for a chart to show how profits vary with sales volume, assuming that he sells an additional 400 gallons for each 1 cent decrease in price. Also, he wants to know how much he can lower his price without losing money. $ 250.00 $ 786.40 S 146.00 3D 4000 4400 $ S $ 2.799 2.749 2.739 Given that you know the price and quantity of callons sold so far, and that call's cost per gallon is $2.649 per gallan and his faced cost is $250 per day, complete the table to the right 2.719 2. 1 2.600 6000 $ 2.69 $ S 2.659 2640 5. Once you calculate total profit, what is the profit maximizing price Supply and Demand Graph Supply and Demand Graph Profit Maximization Profit Maximization