Output per week Total Revenue Average revenue Total cost Average cost Marginal cost 0 0 - 10
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Question:
Output per week | Total Revenue | Average revenue | Total cost | Average cost | Marginal cost |
0 | 0 | - | 10 | - | - |
1 | 40 | 40 | 25 | 15 | |
2 | 60 | 9 | |||
3 | 78 | 18 | |||
4 | 96 | 44 | |||
5 | 105 | 54 |
a) Complete the table
b) What level of output should to firm produce in order to maximized its profits?
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