What is the profit-maximizing level of output

Reference no: EM13204324

Quantity Produced Total Cost
0 $15
1 $21
2 $33
3 $50
4 $72
5 $95
6 $120

Miguel is a farmer who produces oats. The oat market is a pure competition market. Miguel is now making choices in the short run. The going rate for oats is currently $24 per unit. The total cost function is as the table above shows. What is the profit-maximizing level of output?

Reference no: EM13204324

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