Fill in the columns in the following table and use the values in the table to determine the profit-maximizing level of output
Quantity Total Revenue (TR)
Total Cost (TC)
Profit Marginal Revenue (MR)
Marginal Cost (MC)
0 0 3
1 5 5
2 10 6
3 15 8
4 20 11
5 25 15
6 30 21
7 35 30
8 40 42
9 45 60
10 50 85
Quantity Total Revenue (TR)
Total Cost (TC)
Profit Marginal Revenue (MR)
Marginal Cost (MC)
0 0 3 -3 --- ---
1 5 5 0 5 2
2 10 6 4 5 1
3 15 8 7 5 2
4 20 11 9 5 3
5 25 15 10 5 4
6 30 21 9 5 6
7 35 30 5 5 9
8 40 42 -2 5 12
9 45 60 -15 5 18
10 50 85 -35 5 25
The profit-maximizing level of output is 5 units.
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