Chapter 9, Problem 9P

To determine

To answer:

The based on the table given

Concept Introduction:

Total profit: The total profit is the difference between the total benefit and total cost.

Marginal cost: Marginal cost is the additional cost made to the total cost in the production of an additional unit of the commodity

Marginal benefit: The marginal benefit is the additional benefit resulted from producing the additional unit of a good or service.

Marginal Analysis: Marginal analysis is used to compare the benefits and cost derives out of a specific action. The marginal changes refers to the small incremental adjustment to a plan of action