Determine the quantity of output that generates the maximum profit. Use the green points (triangle symbol) to indicate the amount of profit at this quantity of output. Then, determine the quantity of output that generates the maximum total revenue. Use the purple points (diamond symbol) to indicate the amount of revenue at this quantity of output. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) 100 Total Revenue, Total Cost O O O 70 O Loganty O 90 80 40 30 20 10 0 O 0 5 10 TC 15 20 25 O TR 30 35 40 45 50 Maximum Revenue : Maximum Profit

Determine the quantity of output that generates the maximum profit. Use the green points (triangle symbol) to indicate the amount of profit at this quantity of output. Then, determine the quantity of output that generates the maximum total revenue. Use the purple points (diamond symbol) to indicate the amount of revenue at this quantity of output. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) 100 Total Revenue, Total Cost O O O 70 O Loganty O 90 80 40 30 20 10 0 O 0 5 10 TC 15 20 25 O TR 30 35 40 45 50 Maximum Revenue : Maximum Profit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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