Question: Exercise 3 Complete the following table: Quantity Price Total Average Marginal Total Marginal Cost Cost Cost Revenue Revenue P200 145 180 175 160 200 140

Total Marginal Cost Cost Cost Revenue Revenue P200 145 180 175 160

Exercise 3 Complete the following table: Quantity Price Total Average Marginal Total Marginal Cost Cost Cost Revenue Revenue P200 145 180 175 160 200 140 220 120 250Cont'd Quantity Average Marginal Total Marginal Price Total Cost Cost Cost Revenue Revenue 100 300 80 370 60 460 40 570 1. Compute and graph profit maximization using: a. TR - TC Approach b. MR = MC Approach 2. How much is maximum profit? Why? 3. Graph the profit area

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