Total Revenue Total Cost Approach What is the profit maximizing level of output? Price = $131 (1) (2) Total Product Total Fixed (3) (4) Total Variable (5) Cost (TVC) Total Cost Total Revenue (6) (Output) (Q) Cost (TFC) (TC) Profit (+) (TR) or Loss (-) $100 $0 $100 100 90 50 $-100 100 190 131 170 59 100 270 262 240 -8 100 340 300 393 400 +53 100 370 524 +124 470 100 450 655 550 +185 100 540 786 640 +236 100 917 650 750 +277 100 1048 780 +298 880 10 100 1179 950 +299 1030 1310 +280