MGEB12H3 Study Guide - Midterm Guide: Aomedia Video 1
94 views18 pages
11 Aug 2014
School
Department
Course
Professor
Get access
Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Related Documents
Related Questions
Complete the following table and identify the profit maximizing output.
| Quantity | Price ($) | Total Revenue ($) | Marginal Revenue ($) | Marginal Cost ($) | Total Profit |
| 10 | 12 | $120 | Ā $12 | Ā $8 | $25 |
| 11 | 12 | Ā | Ā | 9 | Ā |
| 12 | 12 | Ā | Ā | 11 | Ā |
| 13 | 12 | Ā | Ā | 12 | Ā |
| 14 | 12 | Ā | Ā | 14 | Ā |
How to find profit maximizing quantity from table below?
|
Quantity |
Price |
Total Revenue |
Marginal Revenue |
Marginal Cost |
Profit |
|
10 |
12 |
120 |
12 |
8 |
25 |
|
11 |
12 |
Ā | Ā | Ā |
Ā |
|
12 |
12 |
Ā | Ā | Ā |
Ā |
|
13 |
12 |
Ā | Ā | Ā |
Ā |
|
14 |
12 |
Ā | Ā | Ā |
Ā |
