Question: AP Micro Topic 3.5 Profit Maximization Part 1 - Check for Understanding- Assume that you make homemade Price Marginal scented candles and that you can

AP Micro Topic 3.5 Profit Maximization Part 1 - Check for

AP Micro Topic 3.5 Profit Maximization Part 1 - Check for Understanding- Assume that you make homemade Price Marginal scented candles and that you can sell Cost each of them for $24. Use the graph to $30 answer the questions. 1. Draw and label your marginal revenue $24 curve on the graph. $18 2. How many candles should you make $12 to maximize profit? Explain how you got your answer. $6 0 10 20 30 40 50 60 Quantity 3. Use marginal analysis to explain why you shouldn't produce only 15 candles even though the 15th candle has the lowest marginal cost. 4. Use marginal analysis to explain why you shouldn't produce 60 candles

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