(Figure: Profit Maximization)
in the Figure, in Order to Maximize

question 54

Essay

(Figure: Profit Maximization)
In the figure, in order to maximize profits, how many units should be sold? At the profit-maximizing quantity, what is marginal cost, and what is the profit?
$\begin{array}{|c|c|c|c|c|}\hline \text { Quantity } & \text { Price } & \begin{array}{c}\text { Total } \\\text { Revenue }\end{array} & \text { Total Cost } & \begin{array}{c}\text { Marginal } \\\text { Cost }\end{array} \\\hline 1 & \$ 9 & \$ 9 & \$ 12 & \$ 4 \\\hline 2 & 9 & 18 & 15 & 3 \\\hline 3 & 9 & 27 & 21 & 6 \\\hline 4 & 9 & 36 & 30 & 9 \\\hline 5 & 9 & 45 & 41 & 11 \\\hline\end{array}$

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