Question: 1. A firm faces the marginal revenue schedule MR = 80 - 2q and the marginal cost schedule MC = 15 + 0.5q where q is quantity produced. You know that a firm maximizes profit when MC = MR. What will the profit-maximizing output be?
2. Refer to Table, write an expression for the average height of the first n students observed and evaluate for n = 6.
