A. Fill in the missing data for price (P), total revenue (TR), marginal revenue (MR), total cost
Question:
A. Fill in the missing data for price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC), profit (Ï€), and marginal profit (Me) in the following table:
B. At what output level is profit maximized?
C. At what output level is revenue maximized?
D. Discuss any differences in your answers to parts B andC.
Transcribed Image Text:
0 $160 1 150 2 140 SO SO SO 150 150 25 25 30 35 125 125 100 75 390 300 90 130 350 5 110 550 600 630 640 175 50 370 290 60 -30 80 355 285 75 85 10 525
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A Q P TRPQ MRTRQ TC MCTCQ MeQ 0 160 0 0 0 0 1 150 150 150 25 25 125 125 2 140 280 130 55 30 225 100 ...View the full answer
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