Production Costs QUANTITY Total Marginal TOTAL COST Total Total PRICE Fixed Average Average Average Variable Marginal (in millions) Revenue Revenue (in millions) Variable Total Cost Fixed Cost PROFIT/LOSSES Cost Cost Cost Cost $3.00 C $0.00 $0.45 $0.45 $0.00 ($0.45) $2.87 $2.87 $2.75 $1.09 $0.45 $0.64 $1.09 $0.45 $0.64 $0.64 $1.78 $2.75 $5.49 $2.49 $2.34 $0.45 $1.89 $1.17 $0.23 $0.95 $1.25 $3.15 W N - $2.62 $7.86 $2.24 $3.75 $0.45 $3.30 $1.25 $0.15 $1.10 $1.41 $4.11 $2.49 $9.97 $1.98 $5.32 $0.45 $4.87 $1.33 $0.11 $1.22 $1.57 $4.65 $2.37 5 $11.83 $1.73 $7.05 $0.45 $6.60 $1.41 $0.09 $1.32 $1.73 $4.78 $2.24 $13.43 $1.48 $8.94 $0.45 $8.49 $1.49 $0.08 $1.42 $1.89 $4.49 $2.11 $14.78 $1.22 $10.99 $0.45 $10.54 $1.57 $0.06 $1.51 $2.05 $3.79 $1.98 $15.87 $0.97 $13.20 $0.45 $12.75 $1.65 $0.06 $1.59 $2.21 $2.67 $1.86 $16.71 $0.71 $15.57 $0.45 $15.12 $1.73 $0.05 $1.68 $2.37 $1.14 $1.73 10 $17.30 $0.46 $18.10 $0.45 $17.65 $1.81 $0.05 $1.77 $2.53 ($0.80)Profit Maximization $3.00 $2.50 $2.00 Price $1.50 $1.00 50.50 50.00 2 4 6 8 10 12 Quantity - MR - MC