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?
$$\begin{array} { | c | c | c | c | c | c | }
\hline \text { Quntity } & \begin{array} { c }
\text { Total } \
\text { Revenue } \
\text { (TR) }
\end{array} & \begin{array} { c }
\text { Total } \
\text { Cost } \
\text { (TC) }
\end{array} & \text { Profit } & \begin{array} { c }
\text { Marginal } \
\text { Revenue } \
( \boldsymbol { M R } )
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Cost (MC) }
\end{array} \
\hline 0 & & 3 & & & \
\hline 1 & & 5 & & & \
\hline 2 & & 6 & & & \
\hline 3 & & 9 & & & \
\hline 4 & & 14 & & & \
\hline 5 & & 20 & & & \
\hline 6 & & 28 & & & \
\hline 7 & & 40 & & & \
\hline
\end{array}$$

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?
 $$\begin{array} { | c | c | c | c | c | c | } 
\hline \text { Quntity } & \begin{array} { c } 
\text { Total } \
\text { Revenue } \
\text { (TR) }
\end{array} & \begin{array} { c } 
\text { Total } \
\text { Cost } \
\text { (TC) }
\end{array} & \text { Profit } & \begin{array} { c } 
\text { Marginal } \
\text { Revenue } \
( \boldsymbol { M R } )
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Cost (MC) }
\end{array} \
\hline  0  & &  3  & & & \
\hline 1 & & 5 & & & \
\hline 2 & & 6 & & & \
\hline 3 & & 9 & & & \
\hline 4 & & 14 & & & \
\hline 5 & & 20 & & & \
\hline 6 & & 28 & & & \
\hline 7 & & 40 & & & \
\hline
\end{array}$$

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?
 $$\begin{array} { | c | c | c | c | c | c | } 
\hline \text { Quntity } & \begin{array} { c } 
\text { Total } \
\text { Revenue } \
\text { (TR) }
\end{array} & \begin{array} { c } 
\text { Total } \
\text { Cost } \
\text { (TC) }
\end{array} & \text { Profit } & \begin{array} { c } 
\text { Marginal } \
\text { Revenue } \
( \boldsymbol { M R } )
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Cost (MC) }
\end{array} \
\hline  0  & &  3  & & & \
\hline 1 & & 5 & & & \
\hline 2 & & 6 & & & \
\hline 3 & & 9 & & & \
\hline 4 & & 14 & & & \
\hline 5 & & 20 & & & \
\hline 6 & & 28 & & & \
\hline 7 & & 40 & & & \
\hline
\end{array}$$

Assuming a Market Price of $4,fill in the Columns in the Following