At what level of output would the firm produce

Reference no: EM13182673

Use the following information to calculate total revenue, marginal revenue, and marginal cost. Indicate the profit-maximizing level of output. If the price was $3 and fixed costs were $5, what would variable cost be? At what level of output would the firm produce?

Output Price Total costs Total Revenue (P*Q)

1 $5 $10

2 5 12

3 5 15

4 5 19

5 5 24

6 5 30

7 5 45

Reference no: EM13182673

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