Question

A girl is planning to raise goats for her 4-H project, but her mother insists that her newly created goat farm must be profitable. She has researched her production costs and anticipated revenues, summarizing these findings in these equations: Marginal Revenue = MR = 28 – 2Q and Marginal Costs = MC = 7 + 3Q a. Complete the following table.

Number of Goats | MR | MC | MR-MC |

1 | |||

2 | |||

3 | |||

4 | |||

5 | |||

6 | |||

7 |

Answer #1

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