Statistics 550 - IB Economics
(a) Complete the table above by entering the total revenue (TR), average revenue (AR), marginal revenue (MR) and marginal cost (MC) information for all levels of output. [3 marks] (b) (i) Using your answers from part (a), identify the profit-maximizing level of output for. the firm. You . must . outline the reason for your answer. [2 marks] ................
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