Q | TC ($) | VC($) | MC($)=∆TC/∆Q |
0 | 1000 | ||
100 | 1360 | 360 | 3.60 |
200 | 1560 | 560 | 2.00 |
300 | 1960 | 960 | 4.00 |
400 | 2760 | 1760 | 8.00 |
500 | 4000 | 3000 | 12.40 |
600 | 5800 | 4800 | 18.00 |
The profit maximization condition is P = MC. From the table it is seen that P = MC = $8 when the firm's quantity is 400. Thus the profit maximizing quantity is 400.
Variable Cost (dollars) $0 Quantity O 100 200 300 400 500 600 Total Cost (dollars) $1,000 1,360 1,560 1,960 2,760 4,000...
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