How much will the profit or loss be

Reference no: EM13183216

basis of the following cost data for a purely competitive seller:
Total Product TFC TVC

0 $70 $0
1 70 70
2 70 120
3 70 150
4 70 220
5 70 300
6 70 390

Refer to the above data. If the product price is $75 at its optimal output, exactly how many units should be produced to maximize profits or minimize losses? How much will the profit or loss be?

Reference no: EM13183216

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