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The following is a question for an AP microeconomics assignment. It asks a question regarding data from a table, which I already completed and attached.

The following is a question for an AP microeconomics assignment. It asks a question regarding data from a table, which I already completed and attached.

"Draw a graph for Elmer's wheat farm showing the marginal cost, average total cost, demand, marginal revenue, and average revenue. Indicate the level of profit where profit is maximized, shade in the area of maximum profit, give the amount of maximum profit, and explain how this number is calculated. (6 points)"

I'm not exactly sure what the question is asking. Drawing the curves is simple enough, but how does max profit have a range? I am not sure where to shade.

Thanks.

image text in transcribed
Quantity of Output Total Cost Average Total Cost Marginal Cost Price Total Revenue Marginal Revenue Profit/Loss 0 75 -- -- -- 0 -- -75 1 220 220 145 150 150 150 -70 2 305 152.5 85 150 300 150 -5 3 370 123.33 65 150 450 150 80 4 400 100 30 150 600 150 200 5 440 88 40 150 750 150 310 6 520 86.67 80 150 900 150 380 7 630 90 110 150 1050 150 420 8 810 101.25 180 150 1200 150 390 9 1100 122.22 290 150 1350 150 250 10 1500 150 400 150 1500 150 0

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