Question
Maria sells custom made tablecloths. The table below shows her total costs for making different amounts...
Maria sells custom made tablecloths. The table below shows her total costs for making different amounts of her product.
a. Fill in her marginal costs at each output level
b. Assuming she sells each tablecloth for $25, fill in here total revenue at each output level
c. Fill in her marginal revenue at each output level
d. Based only on the information in the table, what is her profit maximizing output level
|
Quantity |
Total Costs (TC) |
Marginal Costs (MC) |
Total Revenue (TR) |
Marginal Revenue (MR) |
|
0 |
200 |
--- |
--- |
|
|
5 |
275 |
|||
|
10 |
375 |
|||
|
15 |
400 |
|||
|
20 |
550 |
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