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P2.2 A. Fill in the missing data for price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC), profit (p), and marginal profit (Mp) in the following table:
Q
P
TR
MR
TC
MC
p
Mp
0
$160
$ 0
$ —
$ 0
$ —
$ 0
$ —
1
150
150
150
25
25
125
125
2
140
55
30
100
3
390
35
300
75
4
90
130
350
5
110
550
175
6
600
50
55
370
7
630
290
60
–30
8
80
640
355
285
9
75
–85
10
600
525
B. At what output level is profit maximized?
C. At what output level is revenue maximized?
D. Discuss any differences in your answers to parts B and C.
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