The profit-maximizing principle is In the case that the profit-maximizing point is in between two quantity levels, you should generally choose the (higher, lower) level to avoid a negative marginal profit. Complete the following Table: (Do NOT put '$', just the number). Note that our quantities are produced in batches of 10. This means when solving for MR, you should divide your answers by 10 to match the formula: MR = fractriangle TRtriangleQ TR MR Price Quantity TC ATC SO $25.00 $130 $24.00 10 $275 $27.50 $23.00 20 $435 $21.75 $22.50 30 $610 %24 $20.33 $22.00 40 $800 $20.00 $21.60 50 $1,005 $20.10 $ $21.20 60 $1,225 $20.42 The profit-maximizing quantity level is and the price level is $ Yielding a profit of $ MC intersects ATC closes to the quantity level of
The profit-maximizing principle is In the case that the profit-maximizing point is in between two quantity levels, you should generally choose the (higher, lower) level to avoid a negative marginal profit. Complete the following Table: (Do NOT put '$', just the number). Note that our quantities are produced in batches of 10. This means when solving for MR, you should divide your answers by 10 to match the formula: MR = fractriangle TRtriangleQ TR MR Price Quantity TC ATC SO $25.00 $130 $24.00 10 $275 $27.50 $23.00 20 $435 $21.75 $22.50 30 $610 %24 $20.33 $22.00 40 $800 $20.00 $21.60 50 $1,005 $20.10 $ $21.20 60 $1,225 $20.42 The profit-maximizing quantity level is and the price level is $ Yielding a profit of $ MC intersects ATC closes to the quantity level of
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:QUESTION 15
The profit-maximizing principle is
In the case that the profit-maximizing point is in between two quantity levels, you should generally choose the
(higher, lower) level to avoid a negative marginal profit.
Complete the following Table: (Do NOT put '$', just the number). Note that our quantities are produced in batches of 10. This means when solving
for MR, you should divide your answers by 10 to match the formula: MR = fractriangleTRtriangleQ
TR
MR
Price
Quantity TC
ATC
SO
$25.00
$130
$
$24.00
10
$275
$27.50
$23.00 20
$
$21.75
$435
$
$22.50
30
$610
$20.33
$
$22.00
40
$800
$20.00
$
$21.60
50
$1,005
$20.10
$
$21.20 60
$1,225
$20.42
The profit-maximizing quantity level is
and the price level is $
Yielding a profit of $
MC intersects ATC closes to the quantity level of
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