Total Revenue = Price x Quantity
Marginal Revenue = Change in Total revenue / Change in
Quantity
Marginal Cost = Change in Total Cost / Change in Quantity
Profit = Total Revenue - Total Cost
| Q |
P |
TR |
MR |
TC |
MC |
Profit |
| 0 |
60 |
0 |
-- |
100 |
-- |
-100 |
| 1 |
60 |
60 |
60 |
150 |
50 |
-90 |
| 2 |
60 |
120 |
60 |
178 |
28 |
-58 |
| 3 |
60 |
180 |
60 |
198 |
20 |
-18 |
| 4 |
60 |
240 |
60 |
212 |
14 |
28 |
| 5 |
60 |
300 |
60 |
230 |
18 |
70 |
| 6 |
60 |
360 |
60 |
250 |
20 |
110 |
| 7 |
60 |
420 |
60 |
272 |
22 |
148 |
| 8 |
60 |
480 |
60 |
310 |
38 |
170 |
| 9 |
60 |
540 |
60 |
355 |
45 |
185 |
| 10 |
60 |
600 |
60 |
410 |
55 |
190 |
From the above table, the firm's achieves maximum profit at 10
units of 190
| Q |
P |
TR |
MR |
TC |
MC |
Profit |
| 0 |
50 |
0 |
-- |
100 |
-- |
-100 |
| 1 |
50 |
50 |
50 |
150 |
50 |
-100 |
| 2 |
50 |
100 |
50 |
178 |
28 |
-78 |
| 3 |
50 |
150 |
50 |
198 |
20 |
-48 |
| 4 |
50 |
200 |
50 |
212 |
14 |
-12 |
| 5 |
50 |
250 |
50 |
230 |
18 |
20 |
| 6 |
50 |
300 |
50 |
250 |
20 |
50 |
| 7 |
50 |
350 |
50 |
272 |
22 |
78 |
| 8 |
50 |
400 |
50 |
310 |
38 |
90 |
| 9 |
50 |
450 |
50 |
355 |
45 |
95 |
| 10 |
50 |
500 |
50 |
410 |
55 |
90 |
From the above table, the firm's achieves maximum profit at 9
units of 95
