Q TR TC MR MC 0 0 3 - - 1 6 5 6 2 2...

Question

Question

TO CALCULATE MAXIMAZING LEVEL OF OUTPUT AND THEN SKETCH A GRAPH TO REPRESENT MR AND MC DATA

Answer 1

Answer #1

MR = Change in Total revenue / Change in Quantity

MC = Change in Total cost / Change in Quantity

Profit is maximized where MR = MC i.e. 5 units of output.

Answer 2

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