Assuming a market price of $4, fill in the columns in the following table.What is the profit-maximizing level of production? What are the two ways to determine the profit-maximizing level of production?
$\begin{array}{|c|c|c|c|c|c|}
\hline \text { Quantity } & \begin{array}{c}
\text { Total } \
\text { Revenue } \
(T R)
\end{array} & \begin{array}{c}
\text { Total Cost } \
(T C)
\end{array} & \text { Profit } & \begin{array}{c}
\text { Marginal } \
\text { Revenue } \
(M R)
\end{array} & \begin{array}{c}
\text { Marginal } \
\text { Cost }(M C)
\end{array} \
\hline 0 & & 3 & & & \
\hline 1 & & 5 & & & \
\hline 2 & & 6 & & & \
\hline 3 & & 9 & & & \
\hline 4 & & 14 & & & \
\hline 5 & & 20 & & & \
\hline 6 & & 28 & & & \
\hline 7 & & 40 & & & \
\hline
\end{array}$

Question

Assuming a market price of $4, fill in the columns in the following table.What is the profit-maximizing level of production? What are the two ways to determine the profit-maximizing level of production?
 $\begin{array}{|c|c|c|c|c|c|}
\hline \text { Quantity } & \begin{array}{c}
\text { Total } \
\text { Revenue } \
(T R)
\end{array} & \begin{array}{c}
\text { Total Cost } \
(T C)
\end{array} & \text { Profit } & \begin{array}{c}
\text { Marginal } \
\text { Revenue } \
(M R)
\end{array} & \begin{array}{c}
\text { Marginal } \
\text { Cost }(M C)
\end{array} \
\hline 0 & & 3 & & & \
\hline 1 & & 5 & & & \
\hline 2 & & 6 & & & \
\hline 3 & & 9 & & & \
\hline 4 & & 14 & & & \
\hline 5 & & 20 & & & \
\hline 6 & & 28 & & & \
\hline 7 & & 40 & & & \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of Assuming a market price of $4, fill in the columns in the following table.What is the profit-maximizing level of production? What are the two ways to determine the profit-maximizing level of production?
 $\begin{array}{|c|c|c|c|c|c|}
\hline \text { Quantity } & \begin{array}{c}
\text { Total } \
\text { Revenue } \
(T R)
\end{array} & \begin{array}{c}
\text { Total Cost } \
(T C)
\end{array} & \text { Profit } & \begin{array}{c}
\text { Marginal } \
\text { Revenue } \
(M R)
\end{array} & \begin{array}{c}
\text { Marginal } \
\text { Cost }(M C)
\end{array} \
\hline 0 & & 3 & & & \
\hline 1 & & 5 & & & \
\hline 2 & & 6 & & & \
\hline 3 & & 9 & & & \
\hline 4 & & 14 & & & \
\hline 5 & & 20 & & & \
\hline 6 & & 28 & & & \
\hline 7 & & 40 & & & \
\hline
\end{array}$

Assuming a Market Price of $4, Fill in the Columns