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The following table gives the information regarding the units produced by one factory located in qatar. Complete the table and answer the questions below.Marginal Cost,Marginal Profit,Marginal Revenue,Total Profit for each

Unit of output Total Revenue Total Cost
250 1000 752 251 1004 753
252 1008 755
253 1012 758
254 1016 762
255 1020 767
256 1024 773
257 1028 780

a. Determine the profit-maximizing output level

b. Is the profit-maximizing activity level where marginal profit equals zero?

c. Is the profit-maximizing activity level the same as that at which minimum average costs are experienced? Why or why not?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9478974

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