Homework Answers
| Q | P | TR | MR | TC | MC |
| 0 | 34 | 0 | 20 | ||
| 1 | 32 | 32 | 32 | 36 | 16 |
| 2 | 30 | 60 | 28 | 46 | 10 |
| 3 | 28 | 84 | 24 | 50 | 4 |
| 4 | 26 | 104 | 20 | 54 | 4 |
| 5 | 24 | 120 | 16 | 56 | 2 |
| 6 | 22 | 132 | 12 | 64 | 8 |
| 7 | 20 | 140 | 8 | 80 | 16 |
| 8 | 18 | 144 | 4 | 100 | 20 |
| 9 | 16 | 144 | 0 | 128 | 28 |
| 10 | 14 | 140 | -4 | 160 | 32 |
TR=P*Q
MR = change in TR
MC=change in TC
b) Setting MR=MC, the firm will produce 6 units
c) The price charged = 22
d) Profits = TR-TC = 132-64 = 68
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