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raphing Exercise. Quantity Price Total Revenue Marginal Revenue Total Cost Average Total Cost Marginal Cost Profit or Loss 0 $200 1 $2,500 $500 2 $2,300

raphing Exercise.

Quantity

Price

Total Revenue

Marginal Revenue

Total Cost

Average Total Cost

Marginal Cost

Profit

or Loss

0

$200

1

$2,500

$500

2

$2,300

$700

3

$2,100

$1,100

4

$1,900

$1,700

5

$1,700

$2,600

6

$1,500

$3,800

7

$1,300

$5,400

8

$1,100

$7,400

  1. Complete the table above.

  1. Graph the Demand Curve, MR Curve, ATC curve, and MC Curve. (your graph should look like figure 8.6)

  1. Use the three-step process to show the profit maximizing level of output and price on your graph.

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