using the table, If the selling price is now $50 a unit, calculate the profit (or...

using the table, If the selling price is now $50 a unit, calculate the profit (or loss) for each level of units produced. How many units should the firm produce? copy the table in the answer space and fill in the table.

units	Total Cost	Total Revenue	Marginal revenue	Profit
0	$100		undefined
1	$150
2	$180
3	$220
4	$280
5	$370
6	$500

Expert Solution

Equilibrium quantity is where MR = MC i.e. 1 unit is produced.

MR = Change in TR/Change in Q

MC = Change in TC/Change in Q

Rahul Sunny answered 3 years ago

using the table above, If the selling price is $100 a unit, calculate the profit (or loss) for each level of units produced.

UnitstTotal CostTotal revenueMarginal revenueProfit 0$100undefined1$1502$1803$2204$2805$3706$500using the table above, If the selling price is $100 a unit, calculate the profit (or loss) for each level of units produced. How many units should the firm produce? copy the table in the answer space and fill in the table.

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