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Table 13-4 Quantity Sold Price Total Revenue Marginal Revenue Total Cost Marginal Cost Profit 0 $10 $0 ----- $2 ----- -$2 1 9 9 8
Table 13-4
Quantity Sold | Price | Total Revenue | Marginal Revenue | Total Cost | Marginal Cost | Profit |
0 | $10 | $0 | ----- | $2 | ----- | -$2 |
1 | 9 | 9 | 8 | |||
2 | 8 | 16 | 13 | |||
3 | 7 | 21 | 17 | |||
4 | 6 | 24 | 20 | |||
5 | 5 | 25 | 22 | |||
6 | 4 | 24 | 26 |
Table 13-4 lists estimated revenues and costs (per week) for plastic vials (100 vials per box) for the Victoria Biological Supplies Company. Victoria sells plastic vials to universities and private research laboratories. Refer to Table 13-4.Victoria's profit-maximizing output is where
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total profit equals $3.
marginal revenue and marginal cost both equal $4.
marginal revenue and marginal cost both equal $3.
marginal cost is at its minimum value.
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