Asked on 30 Oct 2020

From the given table identify the quantity at which profit is maximised, and determine average variable cost.

Price

Quantity

Total Revenue

Total Cost

Total Variable Cost

5

1

5

4

2

5

2

10

6

4

5

3

15

9

7

5

4

20

14

12

5

5

25

22

20

5

6

30

32

30

Answered on 30 Oct 2020

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