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Retails sales Essays

The data
Selling
Quantity
Total Revenue (TR= P•Q)
Marginal Revenue (mr = ∆TR/∆Q)
Total Cost (TC) ($/day)
Marginal Cost    (mc = ∆TC/∆Q))
Average Cost   (AC = TC/Q
Total Profit (Tπ)
Marginal Profit   (mπ =  ∆Tπ/∆Q)
Price
Sold
(P)
(Q)
9
0

—-

—-
—-

—–
8.9
90
801
8.9
987
7.8
10.9666667
-186
1.1
8.8
180
1584
8.7
1689
7.8
9.38333333
-105
0.9
8.7
270
2349
8.5
2391
7.8
8.85555556
-42
0.7
8.6
360
3096
8.3
3093
7.8
8.59166667
3
0.5
8.5
450
3825
8.1
3795
7.8
8.43333333
30
0.3
8.4
540
4536
7.9
4497
7.8
8.32777778
39
0.1
8.3
630
5229
7.7
5199
7.8
8.25238095
30
-0.1
8.2
720
5904
7.5
5901
7.8
8.19583333
3
-0.3
8.1
810
6561
7.3
6603
7.8
8.15185185
-42
-0.5
8
900
7200
7.1
7305
7.8
8.11666667
-105
-0.7

Profit maximizing point
From the above table we can make out that the profit maximizing point is where 540 units are sold at $ 8.40 (Look into the row that is highlighted). We can see that at this point, the values of marginal revenue and marginal cost are almost equal.

Graphs
 

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