Table Analysis Sections 7.2 & 7.3 Production Cost and 8.2 & 8.3 Perfect Competition and Marginal Analysis

Sweet Syrup's table for questions 1 to 4

Sweet Syrup Inc. produces and sells syrup to the market. The table records the production schedule from 0 to 12 bottles and their corresponding total cost on a certain day. The market price for each bottle of syrup is $8.

Quantity (Q) Bottles per day	Total Cost (TC)	Marginal Cost (MC)	Total Revenue (TR)	Marginal Revenue (MR)	Total profit/loss
0	15
1	22
2	27
3	30
4	32
5	33
6	34
7	36
8	40
9	44
10	51
11	60
12	76

1) From the given information, calculate total revenue, total profit/loss, marginal cost, and marginal revenue. Fill in the table with your calculated figures. Write down which formula you are using for the answers. Demonstrate a few examples of your mathematical work so that you don't need to type up all mathematical work in the table.