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Quantity of Visits Supplied Total Costs per Week ($) 0 20 1 30 2 60 3 90 4 150 5 230 6 330 Determine the

Quantity of Visits Supplied Total Costs per Week ($)
0 20
1 30
2 60
3 90
4 150
5 230
6 330
  1. Determine the marginal cost for each level of output. 20-20=0, 30-20=10, 60-30=30, 90-60=30, 150-90= 60, 230-150=80, 330-230=100
  2. If the price per visit is given to be $50, at what level of visits will the maximum profit position be? What are the profits at this level? What is the quantity supplied?

|$50|

  1. If the price per visit increases to $90, what will be the quantity supplied (assuming maximizing profits)?

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