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Economics

use the information in the table to calculate total revenue, marginal revenue, and marginal cost. Indicate profit- maximizing level of output. If the price was $3 and fixed costs were $5, what would vaiable cost be? At what level of output would the firm produce? Please provide explanation

output price total cost

1 $5 $10

2 $5 $12

3 $5 $15

4 $5 $19

5 $5 $24

6 $5 $30

7 $5 $45

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Macroeconomics, Economics

Category:- Macroeconomics
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