Question: Quantity Fixed Cost Variable Cost Total Cost Marginal Cost 10 200 50 250 ****************** 20 200 100 300 5 30 200 300 500 20 40

Quantity Fixed Cost Variable Cost Total Cost Marginal Cost
10 200 50 250 ******************
20 200 100 300 5
30 200 300 500 20
40 200 800 1000 X

(a) Find the marginal cost as X.

(b) If the equilibrium price is $20, find the profit maximizing quantity.

(c) How much profit will the firm earn?

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