Calculate marginal profit if marginal cost and marginal revenue are $44 and $80 respectively

Suppose the imaginary company of Roobek is a small, Cedar Rapids-based American apparel manufacturer specializing in athleisure. The following table presents the brand’s total cost of production at several different quantities. Fill in the remaining cells of the following table. Quantity Total Cost Marginal Cost Fixed Cost Variable Cost Average Variable Cost Average Total Cost (Pairs) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars per pair) (Dollars per pair) 0 60       — —   1 155           2 220           3 255           4 300           5 350           6 450

Jeb owns a small marketing company, which he operates from a home office. Jeb’s home office is an example of which of the following? Fixed cost Marginal cost Implicit cost Explicit cost

Compare marginal revenue, marginal cost, and marginal revenue product.