Based on the information in the table below, determine what quantity this firm should produce to maximize its profit. Quantity Marginal Cost Average Total Cost P=Marginal Revenue Total Cost 0 $ 100 1 $ 200 $ 300 $ 200 $ 300 2 $ 100 $ 200 $ 200 $ 400 3 $ 70 $ 157 $ 200 $ 470 4 $ 100 $ 143 $ 200 $ 570 5 $ 142 $ 142 $ 200 $ 712 6 $ 200 $ 152 $ 200 $ 912 7 $ 270 $ 169 $ 200 $ 1,182 8 $ 318 $ 188 $ 200 $ 1,500 Group of answer choices

Based on the information in the table below, determine what quantity this firm should produce to maximize its profit. Quantity Marginal Cost Average Total Cost P=Marginal Revenue Total Cost 0 $ 100 1 $ 200 $ 300 $ 200 $ 300 2 $ 100 $ 200 $ 200 $ 400 3 $ 70 $ 157 $ 200 $ 470 4 $ 100 $ 143 $ 200 $ 570 5 $ 142 $ 142 $ 200 $ 712 6 $ 200 $ 152 $ 200 $ 912 7 $ 270 $ 169 $ 200 $ 1,182 8 $ 318 $ 188 $ 200 $ 1,500 Group of answer choices

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 1SQ

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Given: Bartleby Expert Answer to (b): First-Order Condition for Profit Maximization: C(Q1, Q2) = Q12 + 3Q22 For Product Q1: dC/dQ1 = 2Q1 For Product Q2: dC/dQ2 = 3Q2 First-Order Condition of Cost Minimization or Profit Maximization for Product Q1: dC/dQ1 = 2Q1 = 0 Q1 = 0 For product Q2: dC/dQ2 = 3Q2 = 0 Q2 = 0
A firm has revenue given by and its cost function is R(q)= 3409-3q 1-3q² C(q) = 600 + 10q. level of output? What profit does the firm earn at What is the profit-maximizing this output level? The firm maximizes profit by producing (Enter your response as a whole number.) 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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Quantity	Marginal Cost	Average Total Cost	P=Marginal Revenue	Total Cost
0				$ 100
1	$ 200	$ 300	$ 200	$ 300
2	$ 100	$ 200	$ 200	$ 400
3	$ 70	$ 157	$ 200	$ 470
4	$ 100	$ 143	$ 200	$ 570
5	$ 142	$ 142	$ 200	$ 712
6	$ 200	$ 152	$ 200	$ 912
7	$ 270	$ 169	$ 200	$ 1,182
8	$ 318	$ 188	$ 200	$ 1,500