The graph below shows the Total Revenue, Total Costs and the units of output produced by Firm A. Use the following graph to answer the questions that follow. First complete the row of MR.Quantity (Units) 0 1 2 3 4 5 6 7 8Total Revenue (TR) 0 90 180 270 360 450 540 630 720Marginal Revenue (MR) 0Total Cost (TC) 50 80 120 170 230 300 380 470 570Marginal Cost (MC) - 30 40 50 60 70 80 90 100a. What is the Marginal Revenue of the 5th unit of output?b. What is the Fixed Cost of this firm?c. What is the optimal production amount of this firm? (Hint: What is the condition that determinesproduction decisions in a perfectly competitive market?) Show your mathematical work
The graph below shows the Total Revenue, Total Costs and the units of output produced by Firm A. Use the following graph to answer the questions that follow. First complete the row of MR.
Quantity (Units) 0 1 2 3 4 5 6 7 8
Total Revenue (TR) 0 90 180 270 360 450 540 630 720
Marginal Revenue (MR) 0
Total Cost (TC) 50 80 120 170 230 300 380 470 570
Marginal Cost (MC) - 30 40 50 60 70 80 90 100
a. What is the Marginal Revenue of the 5th unit of output?
b. What is the Fixed Cost of this firm?
c. What is the optimal production amount of this firm? (Hint: What is the condition that determines
production decisions in a
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