Question 4 a. The following presents the costs and revenues for a firm. Quantity Total Cost Marginal Marginal Revenue Total Profit Cost Revenue 15 1 30 100 2 48 190 3 59 300 4 68 450 74 500 79 505 7...

i. Calculate the marginal cost, marginal revenue and profit for each unit

of production.

ii. How many units should the firm produce to maximise profit?

Question 4<br>a. The following presents the costs and revenues for a firm.<br>Quantity<br>Total Cost Marginal<br>Marginal<br>Revenue<br>Total<br>Profit<br>Cost<br>Revenue<br>15<br>1<br>30<br>100<br>2<br>48<br>190<br>3<br>59<br>300<br>4<br>68<br>450<br>74<br>500<br>79<br>505<br>7<br>81<br>308<br>

Extracted text: Question 4 a. The following presents the costs and revenues for a firm. Quantity Total Cost Marginal Marginal Revenue Total Profit Cost Revenue 15 1 30 100 2 48 190 3 59 300 4 68 450 74 500 79 505 7 81 308

Jun 10, 2022

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Question 4 a. The following presents the costs and revenues for a firm. Quantity Total Cost Marginal Marginal Revenue Total Profit Cost Revenue 15 1 30 100 2 48 190 3 59 300 4 68 450 74 500 79 505 7...

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