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Profit Maximisation
 Condition 1
 Condition 2
 Condition 3
 The Profit Maximisation Problem: Graphical Representation
Related QuestionsVIEW ALL [7]
The following table shows the total revenue and total cost schedules of a competitive firm. Calculate the profit at each output level. Determine also the market price of the good.
Quantity Sold 
TR (Rs.) 
TC (Rs.) 
Profit 
0 
0 
5 

1 
5 
7 

2 
10 
10 

3 
15 
12 

4 
20 
15 

5 
25 
23 

6 
30 
33 

7 
35 
40 
The following table shows the total cost schedule of a competitive firm. It is given that the price of the good is Rs 10. Calculate the profit at each output level. Find the profit maximising the level of output.
Quantity Sold 
TC (Rs.) 
0 
5 
1 
15 
2 
22 
3 
27 
4 
31 
5 
38 
6 
49 
7 
63 
8 
81 
9 
101 
10 
123 