Consider the data for a price-setting firm in the table below. All revenue and cost figures are in expressed in dollars.

Quantity	0	2	4	6	8	10	12	14	16	18
Total Revenue	0	200	360	480	560	600	600	560	480	360
Total Cost	40	140	240	340	440	540	640	740	840	940

Using the information above, answer the following questions.

The marginal revenue for the firm of selling the 8th unit of output is Answer dollars.

The marginal cost to the firm of producing the 2nd unit of output is Answer dollars.

The firm will maximise profits at an output (quantity) of Answer units.

The price the firm will charge for this level of output will be Answer dollars.

Answer rating: 100% (QA)

To answer the questions based on the given data 1 The marginal revenue for the firm of selling the 8... View the full answer