Complete the table below to answer questions 46. and 47.: Price Quantity Cost $18 16 14 12 10 8 642 012345678 Total Revenue Marginal Revenue Marginal $0 X $2.00 $16 $16 2.50 28 12 3.00 3.50 4.00 4.50 5.00 5.50 6.00 What is the profit-maximizing number of units to produce? What is the profit-maximizing price? 46 46. a. 2 b. 4 c. 6 d. 8 47. a. $14 b. $10 c. $6 d. $4
Complete the table below to answer questions 46. and 47.: Price Quantity Cost $18 16 14 12 10 8 642 012345678 Total Revenue Marginal Revenue Marginal $0 X $2.00 $16 $16 2.50 28 12 3.00 3.50 4.00 4.50 5.00 5.50 6.00 What is the profit-maximizing number of units to produce? What is the profit-maximizing price? 46 46. a. 2 b. 4 c. 6 d. 8 47. a. $14 b. $10 c. $6 d. $4
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter19: Elasticity
Section: Chapter Questions
Problem 9QP
Question
![Complete the table below to answer questions 46. and 47.:
Price
Quantity
Cost
$18
16
14
12
10
8
642
012345678
Total Revenue
Marginal Revenue
Marginal
$0
X
$2.00
$16
$16
2.50
28
12
3.00
3.50
4.00
4.50
5.00
5.50
6.00
What is the profit-maximizing number of units to produce?
What is the profit-maximizing price?
46
46.
a. 2
b. 4
c. 6
d. 8
47.
a. $14
b. $10
c. $6
d. $4](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1680bd0b-e8e1-41b2-b7bf-eb6f44acf24f%2Fecfcab8b-c1e8-4c01-994d-44930df63295%2Fvg3tf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Complete the table below to answer questions 46. and 47.:
Price
Quantity
Cost
$18
16
14
12
10
8
642
012345678
Total Revenue
Marginal Revenue
Marginal
$0
X
$2.00
$16
$16
2.50
28
12
3.00
3.50
4.00
4.50
5.00
5.50
6.00
What is the profit-maximizing number of units to produce?
What is the profit-maximizing price?
46
46.
a. 2
b. 4
c. 6
d. 8
47.
a. $14
b. $10
c. $6
d. $4
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