Table 9.4
$\begin{array}{|c|c|c|c|c|c|c|}
\hline \begin{array}{c}
\text { Quantity } \
\text { Sold }
\end{array} & \begin{array}{c}
\text { Price } \
\text { (dollars )}
\end{array} & \begin{array}{c}
\text { Total } \
\text { Revenue } \
\text { (dollars) }
\end{array} & \begin{array}{c}
\text { Marginal } \
\text { Revenue }
\end{array} & \begin{array}{c}
\text {Total}\
\text { Cost } \
\text { (dollars) }
\end{array} & \begin{array}{c}
\text { Marginal } \
\text { Cost }
\end{array} & \begin{array}{c}
\text { Profit } \
\text { (dollars) }
\end{array} \
\hline 0 & 10 & 0 & \cdots & 2 & \cdots & -2 \
\hline 1 & 9 & 9 & & 8 & & \
\hline 2 & 8 & 16 & & 13 & & \
\hline 3 & 7 & 21 & & 17 & & \
\hline 4 & 6 & 24 & & 20 & & \
\hline 5 & 5 & 25 & & 22 & & \
\hline 6 & 4 & 24 & & 26 & & \
\hline
\end{array}$
Table 9.4 lists estimated revenues and costs (per week) for plastic vials (100 vials per box) for the Victoria Biological Supplies Company. Victoria sells plastic vials to university and private research laboratories.
-Refer to Table 9.4.Victoria's profit-maximising quantity sold (Q)and price (P)are _______.

Question

Table 9.4
 $\begin{array}{|c|c|c|c|c|c|c|}
\hline \begin{array}{c}
\text { Quantity } \
\text { Sold }
\end{array} & \begin{array}{c}
\text { Price } \
\text { (dollars )}
\end{array} & \begin{array}{c}
\text { Total } \
\text { Revenue } \
\text { (dollars) }
\end{array} & \begin{array}{c}
\text { Marginal } \
\text { Revenue }
\end{array} & \begin{array}{c}
\text {Total}\
\text { Cost } \
\text { (dollars) }
\end{array} & \begin{array}{c}
\text { Marginal } \
\text { Cost }
\end{array} & \begin{array}{c}
\text { Profit } \
\text { (dollars) }
\end{array} \
\hline 0 & 10 & 0 & \cdots & 2 & \cdots & -2 \
\hline 1 & 9 & 9 & & 8 & & \
\hline 2 & 8 & 16 & & 13 & & \
\hline 3 & 7 & 21 & & 17 & & \
\hline 4 & 6 & 24 & & 20 & & \
\hline 5 & 5 & 25 & & 22 & & \
\hline 6 & 4 & 24 & & 26 & & \
\hline
\end{array}$
 Table 9.4 lists estimated revenues and costs (per week) for plastic vials (100 vials per box) for the Victoria Biological Supplies Company. Victoria sells plastic vials to university and private research laboratories.
-Refer to Table 9.4.Victoria's profit-maximising quantity sold (Q)and price (P)are _______.

Quizplus · Accepted Answer

Victoria's profit-maximizing quantity sold is 4, and the price is $6. At this quantity, marginal revenue equals marginal cost.

Table 94 Table 94 Lists Estimated Revenues and Costs (Per Week) for Plastic