Homework Answers
| 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.
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