Now compute the missing marginal revenue from the table. The table is reproduced here for convenience. Note: answers should be integers only (i.e 1,2,3,4,5,6,.... etc). Based on the information you computed, what quantity should the firm produce to maximize profits? QuantityTotal Cost ($)Total Revenue ($)Marginal Cost ($)Marginal Revenue ($)080--?198 ?21016 ?31124 ?41332 ?51940 ?62748 ?73756 ?Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.

Marginal Cost (MC):Marginal cost is the additional cost incurred by producing one more unit of a…

Answered: Now compute the missing marginal…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Now compute the missing marginal revenue from the table. The table is reproduced here for convenience. Note: answers should be integers only (i.e 1,2,3,4,5,6,.... etc). Based on the information you computed, what quantity should the firm produce to maximize profits?

Quantity	Total Cost ($)	Total Revenue ($)	Marginal Cost ($)	Marginal Revenue ($)
0	8	0	--	?
1	9	8		?
2	10	16		?
3	11	24		?
4	13	32		?
5	19	40		?
6	27	48		?
7	37	56		?

Note:-

Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.

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