For the data in the following table, which level of q will maximize profit? $$\begin{array} { c c c }
\hline \text { q } & \text { MR } & \text { MC } \
\hline 0 & 0 & 0 \
10 & 40 & 10 \
20 & 30 & 20 \
30 & 20 & 30 \
40 & 10 & 40 \
50 & 5 & 50 \
\hline
\end{array}$$

Question

For the data in the following table, which level of q will maximize profit? $$\begin{array} { c c c } 
\hline \text { q } & \text { MR } & \text { MC } \
\hline 0 & 0 & 0 \
10 & 40 & 10 \
20 & 30 & 20 \
30 & 20 & 30 \
40 & 10 & 40 \
50 & 5 & 50 \
\hline
\end{array}$$

Quizplus · Accepted Answer

Profit is maximized where marginal revenue (MR) equals marginal cost (MC). At q = 20, MR = 30 and MC = 20, which is the closest point before MR equals MC.

For the Data in the Following Table, Which Level of Q