Explain How Much the Firm Shown in Table 8-3 Should

Essay

$$\begin{array} { c c c } \underline {\text { Quantity }} &\underline { \text { Price (dollars) }} & \underline {\text { Tatal Cast (dollars)} } \\1 & 10 & 5 \\2 & 9 & 8 \\3 & 8 & 12 \\4 & 7 & 17 \\5 & 6 & 23\end{array}$$
Explain how much the firm shown in Table 8-3 should produce, first using total profit and then using marginal analysis.Table 8-3