Assume that a firm has measured demand carefully and thinks that the following table accurately displays this.The total cost has been measured and can be given as TC = 20 + Q + Q₂ where Q is the level of output.Complete the table and determine the profit-maximizing level of output.
$\begin{array} { c c c c } \text { Output } & \text { Total Revenue } & \text { Total Cost } & \text { Profit } \\1 & \$ 90 & ---& --- \\2 & 160 & ---& --- \\3 & 210 & ---& --- \\4 & 240 & ---& --- \\5 & 250 &---& --- \\6 & 240 & ---& --- \\7 & 210 & ---& --- \\8 & 160 & ---& --- \\9 & 90 & ---& --- \\10 & 0 & ---& --- \\\end{array}$

Question

Assume that a firm has measured demand carefully and thinks that the following table accurately displays this.The total cost has been measured and can be given as TC = 20 + Q + Q₂ where Q is the level of output.Complete the table and determine the profit-maximizing level of output.

\begin{array} { c c c c } \text { Output } & \text { Total Revenue } & \text { Total Cost } & \text { Profit } \\1 & \$ 90 & ---& --- \\2 & 160 & ---& --- \\3 & 210 & ---& --- \\4 & 240 & ---& --- \\5 & 250 &---& --- \\6 & 240 & ---& --- \\7 & 210 & ---& --- \\8 & 160 & ---& --- \\9 & 90 & ---& --- \\10 & 0 & ---& --- \\\end{array}

Quizplus · Accepted Answer

The Answer of Assume that a firm has measured demand carefully and thinks that the following table accurately displays this.The total cost has been measured and can be given as TC = 20 + Q + Q₂ where Q is the level of output.Complete the table and determine the profit-maximizing level of output. $\begin{array} { c c c c } \text { Output } & \text { Total Revenue } & \text { Total Cost } & \text { Profit } \ 1 & \$ 90 & ---& --- \ 2 & 160 & ---& --- \ 3 & 210 & ---& --- \ 4 & 240 & ---& --- \ 5 & 250 &---& --- \ 6 & 240 & ---& --- \ 7 & 210 & ---& --- \ 8 & 160 & ---& --- \ 9 & 90 & ---& --- \ 10 & 0 & ---& --- \ \end{array}$

Assume That a Firm Has Measured Demand Carefully and Thinks