At what level of output is the profit maximized

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Reference no: EM13209334

The following is a short-run production table for a firm with labor as its only variable input.
Wage = $ 300
Capital = 100
Capital Price= $20
Product Price= $50

Labor Output
0 0
1 50
2 110
3 160
4 200
5 230
6 250
7 260
8 265
9 260
10 250

a. Determine the following measures at all levels of output: MPL, APL, TFC, TVC, TC, TR, AVC, ATC, AFC, MC, PROFIT

b. At what level of output is the profit maximized?

c. What kind of observations can you make about MC, the product price , and the wage?

Reference no: EM13209334

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