Use the Total Cost (TC) Schedule That Is Presented in the Table

Essay

Use the total cost (TC) schedule that is presented in the table below to determine the optimal rate of production when the firm can sell all of the output it produces at a price of $10 per unit. Also determine the level of profit (or loss) that the firm will experience at this level of output.
$$\begin{array} { l r r r r r r r r r r } Q & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 & 9 \\T C & 5 & 7 & 8 & 10 & 14 & 20 & 28 & 38 & 50 & 72\end{array}$$