Economics 101
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See attached file
1. Refer to the above data. At the profit-maximizing output the firm's total revenue is:
A. $48.
B. $32.
C. $80.
D. $64.
Marginal Marginal
Output revenue cost
0 -- --
1 $16 $10
2 16 9
3 16 13
4 16 17
5 16 21
1. Refer to the above data. At the profit-maximizing output the firm's total revenue is:
A. $48.
B. $32.
C. $80.
D. $64.
https://brainmass.com/business/organizational-economics/profit-maximizing-output-firms-total-revenue-9136
SOLUTION This solution is FREE courtesy of BrainMass!
See the attached file.
Marginal Marginal
Output revenue cost
0 -- --
1 $16 $10
2 16 9
3 16 13
4 16 17
5 16 21
1. Refer to the above data. At the profit-maximizing output the firm's total revenue is:
A. $48.
B. $32.
C. $80.
D. $64.
Since the marginal cost is least at output of 2 units that will the profit maximizing output. So total revenue at 2 units = 16x2 = $32.
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