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Question 7 [15] 7.1. Complete the following table in terms of the profit, revenue and costs of a firm. (8) No. of Total Total Total

Question 7 [15]

7.1. Complete the following table in terms of the profit, revenue and costs of a firm. (8)

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No. of Total Total Total Average Average Marginal Marginal units Revenue Cost Profit Revenue Total Revenue Cost (Q) of Firm (TC) (AR) Cost (MR) (MC) (TR) (ATC) 0 0 50 -50 3 825 725 212.50 5 1 250 1 050 250.00 187.50 7 1 575 1 425 203.57 10 1 875 2 175 -300

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