The table gives the various levels of output (Q) and its corresponding total cost of…

Economics JAMB 1989

The table gives the various levels of output (Q) and its corresponding total cost of production. (ITC) and total revenue (TR) for a firm. Which output level Q results in maximum profit?

  • 400
  • 500 checkmark
  • 600
  • 700

The correct answer is: B

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