10. Using the table on page 120 as the base, change the Fixed Cost column
to $20 and the Marginal Revenue
column to $19. (a) Recalculate the
Total Cost column, the Total Rev-
enue column and the Profit column.
(b) Based on the chart, what is the
output that will maximize profit?
(c) How much will the profit be?
(d) Using the table you have created,
make a graph that shows the most
profitable level of output when the
marginal revenue is $19.