Use the data below to answer the questions: Price Quantity Demanded Total Revenue Marginal Revenue Total Cost Marginal Cost $24 1000 $24,000 ***************** $15,000 **************** $22 1250 $27,500 $14 $17,000 $8 $20 1500 X $10 $19,500 $10 $18 1750 $31,500 Y $23,000 $14 $16 2000 $32,000 $2 $27,000 Z (d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit the firm will earn. I questions a b and c separately each to adhere to the company policy of asking question. please answer these 3 briefly so i can use my questions for others, thank you very much!
Use the data below to answer the questions: Price Quantity Demanded Total Revenue Marginal Revenue Total Cost Marginal Cost $24 1000 $24,000 ***************** $15,000 **************** $22 1250 $27,500 $14 $17,000 $8 $20 1500 X $10 $19,500 $10 $18 1750 $31,500 Y $23,000 $14 $16 2000 $32,000 $2 $27,000 Z (d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit the firm will earn. I questions a b and c separately each to adhere to the company policy of asking question. please answer these 3 briefly so i can use my questions for others, thank you very much!
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Use the data below to answer the questions:
| Quantity Demanded | Total Revenue | Marginal Revenue | Total Cost | Marginal Cost | |
| $24 | 1000 | $24,000 | ***************** | $15,000 | **************** |
| $22 | 1250 | $27,500 | $14 | $17,000 | $8 |
| $20 | 1500 | X | $10 | $19,500 | $10 |
| $18 | 1750 | $31,500 | Y | $23,000 | $14 |
| $16 | 2000 | $32,000 | $2 | $27,000 | Z |
(d) Find the profit maximizing price.
(e) Find the profit maximizing quantity.
(f) Find the profit the firm will earn.
I questions a b and c separately each to adhere to the company policy of asking question. please answer these 3 briefly so i can use my questions for others, thank you very much!
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