Price Quantity Total Quantity Produced Total Marginal Marginal Cost Demanded Revenue Cost Revenue 20 4 16 32 2 12 12 4 48 4 28 B 8 8 6. 48 4 8 32 8 70 -8 11 10 10 95 12.5 (a) Find out the missing values A,B,C and D. (b) Find out the price and output where total revenue is maximized. (c) Find out the price and output where profit is maximized. 4) 16 6 2)
Price Quantity Total Quantity Produced Total Marginal Marginal Cost Demanded Revenue Cost Revenue 20 4 16 32 2 12 12 4 48 4 28 B 8 8 6. 48 4 8 32 8 70 -8 11 10 10 95 12.5 (a) Find out the missing values A,B,C and D. (b) Find out the price and output where total revenue is maximized. (c) Find out the price and output where profit is maximized. 4) 16 6 2)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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