The table below shows marginal cost, MC, and marginal revenue, MR. Estimate the production level

Question

James Kiss · Accepted Answer

1. Profit is maximized when marginal cost (MC) is equal to marginal revenue (MR).

The table below shows marginal cost, MC, and marginal revenue, MR. Estimate the production level that maximizes profit. q | 5000 | 6000 | 7000 | 8000 | 9000 | 10,000 MR | 60 | 58 | 56 | 55 | 54 | 53 MC | 51 | 53 | 56 | 59 | 64 | 70 Profit is maximized at q =