Using equations involving marginal revenue and marginal cost

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Use the total cost (TC) schedule that is presented in the table below to determine the optimal rate of production when the firm can sell all of the output it produces at a price of $6.50 per unit. Also determine the level of profit (or loss) that the firm will experience at this level of output. Q 0 1 2 3 4 5 6 7 8 9 TC 3 6 8 11 15 20 26 34 45 60 I need to understand this using equations involving marginal revenue and marginal cost. Something that explains the optimal, equilibrium, or profit-maximizing output levels

Reference no: EM131081789

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