the data below shows a tabulation on the production of a hypothetical product output (Q) total cost 0 25 1 32 2 38 3 42 4 48 5 58 6 67 7 78 8 98 use the data to answer the following questions:- * determine the total fixed cost * average variable cost schedule * marginal cost schedule * suppose this product is produced on a perfect market and the price of the commodity= 10. Determine the output Q that will maximize the profits. What is the maximum profits achieved by the firm? (show all the workings)

/in /by

the data below shows a tabulation on the production of a hypothetical
product

output (Q) total cost

0 25

1 32

2 38

3 42

4 48

5 58

6 67

7 78

8 98

use the data to answer the following questions:-

* determine the total fixed cost
* average variable cost schedule
* marginal cost schedule
* suppose this product is produced on a perfect market and the price
of the commodity= 10. Determine the output Q that will maximize the
profits. What is the maximum profits achieved by the firm? (show all
the workings)

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