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Profit Maximization

Fill in the missing data for price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC) profit (ח) and marginal profit (Mח) in the following table.

See attached file for full problem description.

A. At what output (Q) Level is profit maximized?
B. At what out put (Q) level is revenue maximized?
C. Discuss any differences in your answers to Parts A and B

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Solution Preview

Please see the attached file.

To complete the table, it's just a matter ...