Determine the quantity of output that generates the maximum profit. Use the green points (triangle symbol) to indicate the amount of profit at this quantity of output. Then, determine the quantity of output that generates the maximum total revenue. Use the purple points (diamond symbol) to indicate the amount of revenue at this quantity of output. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) 100 Total Revenue, Total Cost O O O 70 O Loganty O 90 80 40 30 20 10 0 O 0 5 10 TC 15 20 25 O TR 30 35 40 45 50 Maximum Revenue : Maximum Profit
Determine the quantity of output that generates the maximum profit. Use the green points (triangle symbol) to indicate the amount of profit at this quantity of output. Then, determine the quantity of output that generates the maximum total revenue. Use the purple points (diamond symbol) to indicate the amount of revenue at this quantity of output. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. (?) 100 Total Revenue, Total Cost O O O 70 O Loganty O 90 80 40 30 20 10 0 O 0 5 10 TC 15 20 25 O TR 30 35 40 45 50 Maximum Revenue : Maximum Profit
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
Problem 5MC
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