Output FC VC TC TR Profit/Loss
0 100 0
1 100 100
2 100 180
3 100 300
4 100 440
5 100 600
6 100 780
1. Complete the table
2. At what output rate does the firm maximize proft or minimize loss?
3. What is the firm's marginal revenue at each positive level of output? its average revenue?
4. What can we say about the relationship between marginal revenue and marginal cost for output rates below the profit-maximizing for loss-minimizing rate? For output rates above the profit-maximizing or loss-minimizing rate?