Based on the table below, what is the profit maximizing level of output for this firm in the short run? p q tc 10.00 16 100.00 10.00 17 105.00 10.00 18 112.00 10.00 19 121.00 10.00 20 132.00 10.00 21 145.00 p = price $10 q = quantity 16 to 21 tc = total cost $100 to $145 explain, i have several other problems like this and i want to learn the steps on how to do this! you in advance!

Let's find the profit for each case:

1. Price= $ 10, Quantity= 16, Total Cost: $ 100

Revenue= Price x Quantity = 10 x 16 = $ 160

Profit = Revenue - Total Cost = 160 - 100 = $ 60

2. Price= $ 10, Quantity= 17, Total Cost: $ 105

Revenue= Price x Quantity = 10 x 17 = $ 170

Profit = Revenue - Total Cost = 170 - 105 = $ 65

3. Price= $ 10, Quantity= 18, Total Cost: $ 112

Revenue= Price x Quantity = 10 x 18 = $ 180

Profit = Revenue - Total Cost = 180 - 112 = $ 68

4. Price= $ 10, Quantity= 19, Total Cost: $ 121

Revenue= Price x Quantity = 10 x 19 = $ 190

Profit = Revenue - Total Cost = 190 - 121 = $ 69

5. Price= $ 10, Quantity= 20, Total Cost: $ 132

Revenue= Price x Quantity = 10 x 20 = $ 200

Profit = Revenue - Total Cost = 200 - 132 = $ 68

6. Price= $ 10, Quantity= 21, Total Cost: $ 145

Revenue= Price x Quantity = 10 x 21 = $ 210

Profit = Revenue - Total Cost = 210 - 145 = $ 65

The profit is maximized when the price is $ 10, quantity is 19 and the total cost is $ 121.

Definitions:

1. Price is the amount of money that allows the acquisition or use of a good or service.

2. Total cost is the economic cost that represents the manufacture of a product or the provision of a service.

3. Income is the total amount of money earned or collected.

4. Profit is the amount of money that is earned, after subtracting the total costs.

jupiter is mainly composed of hydrogen and helium just like a star. spectral analysis of jupiter has revealed that in addition to hydrogen and helium, the planet is made of water, methane and ammonia. those elements are in trace amounts. the core of the planet is thought to contain some rock and metallic hydrogen. i hope this will give you the answer to your question! : d

the branch of biology that deals with the normal functions of living organisms and their parts.

the way in which a living organism or bodily part functions.