Optimization: Marginal Analysis- Quantity Determination, Profit Maximization Given the following information, please state your suggestions: 25%

a.What will be the quantity that you will suggest to produce for reaching the optimization point (in resource allocation)? Please specify your decision rule and present the number to support your decision (Must show your calculation steps and explain) (10%)

b. Please draw a figures/graphs to show your TC, TR, MR, MC and explain how you determine your optimal quantity to produce the output based on your graph)- (10%).

c. What will be the profit amount when the resource allocation decision is optimized (at what quantity or quantities)? (5%)

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Price Quantity Total Revenue Total Cost 76 1 212 73 68 64 62 23410 2 191 3 171 4 155 5 144 59 6 139 56 7 143 53 8 165 51 9 189 49 10 220 47 11 261 45 43 23 12 13 307 362 Price Quantity Total Revenue Total Cost 76 1 212 73 68 64 62 23410 2 191 3 171 4 155 5 144 59 6 139 56 7 143 53 8 165 51 9 189 49 10 220 47 11 261 45 43 23 12 13 307 362