Question

Quantity (Q) Bottles per day Total Cost (TC) Marginal Cost (MC) (TC/Q) Total Revenue (TR) (P*Q)...

Quantity (Q)

Bottles per day

Total Cost

(TC)

Marginal Cost

(MC)

(TC/Q)

Total Revenue

(TR)

(P*Q)

Marginal Revenue (MR)

(TR/Q)

Economic profit/loss

(Loss/Profit)

0

15

-

0

-

(-15)

1

22

7

8

8

(-21)

2

27

5

16

8

(-16)

3

30

3

24

8

(-9)

4

32

2

32

8

(-2)

5

33

1

40

8

6

6

34

1

48

8

13

7

36

2

56

8

18

8

40

4

64

8

20

9

44

4

72

8

24

10

51

7

80

8

22

11

60

9

88

8

19

12

76

16

96

8

4

At which quantity of production level will Sweet Syrup maximize profit? (1 point)

How much is the profit at this quantity? Show mathematical formula and work to receive point. (1 point)

Describe this profit maximizing decision by means of marginal analysis (comparing marginal revenue and marginal cost). (1 points)

Business   Economics   
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