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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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