V4

The Silversun Watch Company sells watch's for $20 each. Fixed costs of production are $20. The total variable costs are $10 for one watch,S25 for two units,$35 for the three units,$55 for four units, and $80 for five units. In the form of a table, calculate total revenue, marginal revenue, total cost, and marginal cost for each output level( one to five units). What is the profitmaximizing quantity of output? On one diagram, sketch the total revenue and total cost curves. On another diagram, sketch the marginal revenue and marginal cost curves