(Solved) Profit Maximization . Fill in the missing data for price (P),

Profit Maximization. Fill in the missing data for price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC), profit (p), and marginal profit (Mp) in the following table.

 Q P TR MR TC MC p Mp 0 \$50 \$    0 \$-- \$    10 \$-- \$  -10 \$-- 1 45 45 45 60 50 -15 -5 2 40 35 115 -35 3 35 175 60 -35 4 120 15 65 -120 -50 5 25 5 310 -65 6 20 -5 75 -80

 A. At what output (Q) level is profit maximized (or losses minimized)? Explain. B. At what output (Q) level is revenue maximized?

Q

0

1

2

3

4

5

6

P

TR

MR

TC

MC

p

Mp

50

45

40

35

30

25

20

0

45

80

105

120

125

120

45

35

25

15

5

-5

10

60

115

175

240

310

385

50

55

60

65

70

75

-10

-15

-35

-70

-120

-185

-265

-5

-20

-35...

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This question was answered on: Oct 15, 2019

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STATUS

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Oct 15, 2019

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