**Number of Baskets (per Hour)Total CostMarginal Cost**

0

$ 10

—

1

15

$ 5

2

22

7

3

31

9

4

44

13

5

61

17

Using the cost information above, complete the table below related to profit maximization.

**Instructions:** Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (−) in front of those numbers.



To complete the table related to profit maximization, we can follow the marginal analysis, which uses the cost and marginal cost information provided. Let's break this down step-by-step:

We need to clarify what variables or categories we are completing based on the information you've given.

From the first table, we have:

1. **Number of Baskets (per Hour)**: This indicates the quantity of baskets produced each hour.
2. **Total Cost**: This is the total cost incurred at each quantity of production.
3. **Marginal Cost**: Marginal cost represents the additional cost incurred for producing one more unit.

To complete a table regarding profit maximization, we typically need additional information on **Revenue** and **Profit**, but let's start with what we have:

---

Given: 

| **Number of Baskets** | **Total Cost** | **Marginal Cost** |
|-----------------------|----------------|-------------------|
| 0                     | $10            | --                |
| 1                     | $15            | $5                |
| 2                     | $22            | $7                |
| 3                     | $31            | $9                |
| 4                     | $44            | $13               |
| 5                     | $61            | $17               |

---

For profit maximization, we typically also require **Revenue** or **Price** of each basket, which is not provided. Here's how you would calculate:

1. **Total Revenue (TR)**: Total Revenue is calculated as Price per basket multiplied by the number of baskets.
   
   \[
   \text{TR} = P \times Q
   \]

2. **Marginal Revenue (MR)**: This is the additional revenue earned by selling one more basket.

   \[
   \text{MR} = \frac{\Delta \text{TR}}{\Delta Q}
   \]

3. **Profit**: Profit is calculated as the difference between Total Revenue and Total Cost.

   \[
   \text{Profit} = \text{TR} - \text{Total Cost}
   \]

For **profit maximization**, you produce at a quantity where **MR = MC** (Marginal Revenue equals Marginal Cost). Since revenue data is missing, I'll need that information or clarification before proceeding with calculations.

Would you like to provide the price or revenue per basket? This will help in completing the table!

---

5 relative questions to expand:

1. What is the selling price of each basket, if available?
2. Should we assume the revenue data is linear or include price changes?
3. Would you like assistance in calculating profits from the current table?
4. Would you like to calculate the profit-maximizing level of output once price is provided?
5. Do you need help understanding how marginal cost relates to profit maximization?

**Tip:** To maximize profits, it's important to produce until marginal revenue equals marginal cost, as this point maximizes the difference between revenue and cost.

Number of Baskets (per Hour)Total CostMarginal Cost
0 $10 —
1 $15 $5
2 $22 $7
3 $31 $9
4 $44 $13
5 $61 $17
Using the cost information above, complete the table below related to profit maximization.

Learn how to solve a profit maximization problem using marginal cost and revenue data. This guide explains the key formulas, including Total Revenue and Marginal Revenue, and demonstrates how to determine the profit-maximizing quantity. Suitable for high school students in Grades 10-12.

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