What is the total cost at this level of outpt? QUANTITY I TEC What is the profit

Question

What is the total cost at this level of outpt? QUANTITY I TEC What is the profit at this level of output? Question 4 4. Examine the table above, which gives information about the costs of a perfectly competitive firm. You are hired to determine the profit-maximizing quantity for the firm different prices. For each price listed, you must find the output level, total revenue, total cost, and profit. When the market price is P $53, What is the profit maximizing level of output? What is total revenue at this level of output? lo For this le 07 Quiz (htt

Explanation / Answer

Qty TFC TVC TC MC TR MR Profits 0 45 0 45 - 0 0 0 1 45 20 65 20 53 53 12 2 45 35 80 15 106 53 26 3 45 45 90 10 159 53 69 4 45 75 120 30 212 53 92 5 45 120 165 45 265 53 100 6 45 180 225 60 318 53 93 Req 1: Profit Maximizing output is 5 units As MR> MC and afterwards the Marginal cost is bound to increase. Req 2: Total revneue is $265 Req 3: Total Cost is $ 165 Req 4:; Total profits at this level of output is $ 100.

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