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# Consider the total cost and the total revenue given in the table below

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Consider the total cost and the total revenue given in the table below:

Quantity

0

1

2

3

4

5

6

7

Total cost (in €)

8

9

10

11

13

19

27

37

Total revenue (in €)

0

8

16

24

32

40

48

56

a) Calculate profit for each quantity. How much should the firm produce to maximize profit?

b) Calculate marginal revenue and marginal cost for each quantity.

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## [Solved] Consider the total cost and the total revenue given in the table below

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- Submitted On 20 Dec, 2014 11:40:11

Answer posted by

- Smartwriter
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a) Calculate profit for each quantity. How much should the firm produce to maximize profit?

The complete t...

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