Total Revenue Change in profit (£) Total Marginal Output (Units) Profit Marginal cost (£) cost (£) (£) revenue (£) (£) 1 6. 5 12 8 18 12 4 24 17 30 23 36 30 7 42 38 8 48 47

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Table 1
Change in
profit (£)
Profit
Marginal
Output
(Units)
(오)
Total
Marginal
cost (£)
Total
Revenue
cost (£)
(오)
revenue
(오)
3
1
6
2
12
8
3
18
12
4
24
17
30
23
36
30
7
42
38
8
48
47
Transcribed Image Text:Table 1 Change in profit (£) Profit Marginal Output (Units) (오) Total Marginal cost (£) Total Revenue cost (£) (오) revenue (오) 3 1 6 2 12 8 3 18 12 4 24 17 30 23 36 30 7 42 38 8 48 47
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