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Profit Maximization

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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.

0 $230 $0 $-- $0 $- $0 $-
1 210 10 200
2 380 20 150
3 170 130 30 450
4 600 100 40 50
5 130 160 60 490 -10
6 660 430
7 630 -30 310 -110
8 70 -70 400 90 160 -160

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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The expert examines profit maximization for missing data of price, total revenue, marginal revenue, total cost, marginal cost, profit and marginal profit.

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