Question

The data in the following table give information about the price​ (in dollars) for which a firm can sell a unit of output and the total cost of​ production, where quantity is​ q, total cost is​ C, marginal cost is​ MC, total revenue is​ R, marginal revenue is​ MR, and profit is pi.

Q C

0 100

1 150

2 178

3 198

4 212

5 230

6. 250

7. 272

8. 310

9. 355

10. 410

11. 475

Answer 1

Price= 50 is assumed, as the value of price is not provided.