1. Complete the tables

	Labor	Output	FC	VC	TC	MC	AFC	AVC	ATC
A	0	0	25	0		-----	----	---	------
B	1	4	25	25
C	2	10	25	50
D	3	13	25	75
E	4	15	25	100
F	5	16	25	125

Quantity (Q)	Price (P)	Total Revenue (TR)	Marginal Revenue (MR)	Total Cost (TC)	Marginal Cost (MC)	Profit
6	25		------	126	-------
7	25			141
8	25			160
9	25			183
10	25			210
11	25			245
12	25			300

1. What is the profit-maximizing level of output in the second table?

1. What is the amount of profit at the profit maximizing output level in the second table?

1. Use the graphs below to answer the following questions.

P MC S1 S2 ATC P1 P1 P2 P2 D Q q2 q1 Market FirmP P MC ATC S' S MR' P* MR D Q Market Firm