What criteria did you use to determine the optimal level

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Reference no: EM13222141

The following table contains information about the revenues and costs for Barry's Baseball Manufacturing. All data are per hour. Complete the first group of columns which correspond to Barry's production if P=$3. (TR=total revenue, TC=total cost, MR=Marginal revenue, MC = marginal cost)
Q TR,P=$3 TC Profit MR MC TR,P=$2 Profit MR
0 $1
1 $2
2 $3
3 $4
4 $5
5 $6

If the price is $3 per baseball, what is Barry's optimal level of production? What criteria did you use to determine the optimal level of production?

Reference no: EM13222141

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