Question: The data in the table to the right give the total cost, C, and marginal cost; MC; for a profit maximizing firm in a perfectly

The data in the table to the right give the total cost, C, and marginal cost; MC; for a profit maximizing firm in a perfectly industry market at each possible level of output; (1. (Enter all numeric responses using integers.) What is marginal revenue when the market price is $64? MR 2 $ 64 . What is marginal revenue when market price is $50? MR = $ 50 What happens to the firm's output choice and profit ifthe price of the product falls from 564 to $50. lfthe market price falls from 564 to $50; then the firm's outputwill |:| from El units to D units. q 0 'l 2 3 4 5 5 Y 8 9 10 410 4?5

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