The following data are price/quantity/cost combinations for Titan Industry’s mainframe computer division: a. What is the marginal revenue if output rises from 2 to 3 units? (Hint: Calculate total...

The following data are price/quantity/cost

combinations for Titan Industry’s mainframe

computer division:

a. What is the marginal revenue if output rises from

2 to 3 units? (Hint: Calculate total revenue at

each output level first.) What is the marginal cost

if output rises from 4 to 5 units?

b. What quantity should Titan produce to maximize

total revenue? Total profit?

c. What is Titan’s fixed cost? How do Titan’s marginal costs behave as output increases?