# Marginal Marginal Barrel of Oil Average Revenue $50 Produced Cost Costs$34 1 \$4 2 50 6 40 50 50 17 3 11 17 17 4 50 23 18.20 6 50 29 20 50 50 7 36 22.29 8 50 25.75 9 50 90 32.89 10 50 124 42

Question
Refer to the table. If seven barrels of oil are produced, this firm is making:

 a profit because MR > MC. a loss because TR < TC. a profit because P >AC. a loss because MC > AC.

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BusinessEconomics