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Calculate the profit for that level of output

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a. Complete the table above. You do not have to complete any cell with "-" in it. Be careful calculating MC and MR; note that output does not change by "1" but by "2". 

b. What level of output will this firm operate at in order to maximize its revenues or minimize its losses? (That is not two questions; it's the same level of output in either case.)

c. Demonstrate to me that your answer to (b) above is indeed correct. Calculate the profit for that level of output, as well as the level of output immediately above and below it (so you will have three profit calculations).

Reference no: EM13156364

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