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Managerial Economics: Graph profits and marginal profits

Q: 0 1 2 3 4 5 6 7 8
TP: $0 19 52 93 136 175 210 217 208

Given the above data, discuss the relationships between total, average, and marginal profits. Graph both total profits as well as average and marginal profits. How is this information applicable in practice?

Solution Summary

The Excel solution presents the graph with good explanations.

$2.19