Here’s the table showing costs, and quantity. Find the profit. Quantity Total Cost Marginal Cost Total Revenue Marginal Revenue Profit 0 $ 8 --- $ 0 --- 1 9 $ 1 8 $ 8 2 10 1 16 8 3 11 1 24 8 4 13 2 32 8 5 19 6 40 8 6 27 8 48 8 7 37 10 56 8

Here’s the table showing costs, and quantity. Find the profit. Quantity Total Cost Marginal Cost Total Revenue Marginal Revenue Profit 0 $ 8 --- $ 0 --- 1 9 $ 1 8 $ 8 2 10 1 16 8 3 11 1 24 8 4 13 2 32 8 5 19 6 40 8 6 27 8 48 8 7 37 10 56 8

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter3: Demand Analysis

Section: Chapter Questions

Problem 1.2CE

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Question

Here’s the table showing costs, and quantity. Find the profit.

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

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