Profit Maximization
September 28th, 2022
Use the information about marginal cost and marginal revenue in the table below to determine the profit maximizing level of output
Output 1 2 3 4 5 6 7 8 9
MC 10 11 13 16 20 25 31 38 48
MR 50 45 40 35 30 25 20 15 10