Question: Part 2. Please complete the following table and then answer the questions that follow. MC = MR = P Q PQ - TC = profit

Part 2. Please complete the following table and then answer the questions that follow. MC = MR = P Q PQ - TC = profit TC/Q TR/Q ---------------------------------------------------------------------------- $10 0 $0 $100 - $100 xxxx xxxx 8 20 160 $115 $35 $1.00 $7.00 7 30 210 $130 _____ ______ $5.00 6 40 240 $150 _____ ______ ______ 5 50 250 $180 _____ ______ ______ A. Please determine the firms profit maximizing level of output, Q. (2 points) B. Please determine the level of profit that corresponds to your answer to question A? (2 points)

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