Question
Quantity Price Total Revenue Marginal Revenue Total Cost Marginal Cost Profit 0 $ 10 $ 12 1 $ 10 $ 16 2 $ 10 $
| Quantity | Price | Total Revenue | Marginal Revenue | Total Cost | Marginal Cost | Profit |
|---|---|---|---|---|---|---|
| 0 | $ 10 | $ 12 | ||||
| 1 | $ 10 | $ 16 | ||||
| 2 | $ 10 | $ 22 | ||||
| 3 | $ 10 | $ 30 | ||||
| 4 | $ 10 | $ 40 | ||||
| 5 | $ 10 | $ 52 |
Use the data provided in the Cost Table to determine the following: a. Profit Maximizing quantity of output. b. Total Revenue at that level of output. c. The total profit (or loss) at that output level.
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Modern Principles Microeconomics
Authors: Tyler Cowen, Alex Tabarrok
4th Edition
1319098762, 978-1319098766
