Consider the total cost and the total revenue given in the table below

Consider the total cost and the total revenue given in the table below:

Quantity

0

1

2

3

4

5

6

7

Total cost (in €)

8

9

10

11

13

19

27

37

Total revenue (in €)

0

8

16

24

32

40

48

56

a) Calculate profit for each quantity. How much should the firm produce to maximize profit?

b) Calculate marginal revenue and marginal cost for each quantity.

Consider the total cost and the total revenue given in the table below

a) Calculate profit for each quantity. How much should the firm produce to maximize profit?

The complet...

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