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Finding total revenue and profit at optimal output level

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1. Use the "graph attached" What is the firm's Total Revenue at the profit maximizing level of output
32
0
16
8
14
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2. Use the "graph attached" What is the firm"s Total Profits at the profit maximizing level of output?

0
32
16
4
8
14

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Solution Summary

Solution describes the steps to find out total revenue and total profits at optimal output level.

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1.
Marginal Cost curve and Marginal Revenue curve intersects each other at a output level of 8 units. A vertical line from ...

Solution provided by:
Lokesh Jain, MSc
Education
  • BEng (Hons) , Birla Institute of Technology and Science, India
  • MSc (Hons) , Birla Institute of Technology and Science, India
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