The table shows the cost of manufacturing various quantities of an item and the revenue obtainedfrom their sale.Quantity01020304050607080Cost ($)11036060074010201340184025203360Revenue ($)026060090012801560184021002300(a) What range of production levels appears to be profitable?Production appears to be profitable for quantities betweenand.(b) Calculate the profit or loss for each of the quantities shown. Estimate the most profitableproduction level.QuantityProfit01020304050607080The maximum profit is obtained at a production level of aboutunits.One of the tables below represents a supply curve; the other represents a demand curve.Table 1p ($ /unit)180169153141132125116q (quantity)5101520253035Table 2p ($ /unit)63462107165230313q (quantity)5101520253035Don't show me this message again for the assignment(a) Which table represents which curve? Why?Table 1 is the demand curve since as price increases the quantity sold decreases, andTable 2 is the supply curve because while the price increases, the quantity suppliedincreases.Table 1 is the supply curve because while the price increases, the quantity suppliedincreases, and Table 2 is the demand curve since as price increases the quantity solddecreases.Table 1 is the demand curve since as price increases the quantity sold increases, andTable 2 is the supply curve because wh ...
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