The table below represents a firm's profit for producing and selling candles. Assume that if a firm would have the same profit at two different levels of output, then the firm would choose the greater level of output. Assume that the only levels of output that the firm can produce are the levels of output given in the table. At what level of output does the firm maximize profits? Quantity Total Cost Marginal Cost Total Revenue Marginal Revenue 0 $20 - $0 - 15 $60 $2.67 $75 $5 30 $110 $3.33 $150 $5 45 $170 $4.00 $225 $5
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The table below represents a firm's profit for producing and selling candles. Assume that if a firm would have the same profit at two different levels of output, then the firm would choose the greater level of output. Assume that the only levels of output that the firm can produce are the levels of output given in the table. At what level of output does the firm maximize profits?
| Quantity | Total Cost | Marginal Cost | Total Revenue | Marginal Revenue |
| 0 | $20 | - | $0 | - |
| 15 | $60 | $2.67 | $75 | $5 |
| 30 | $110 | $3.33 | $150 | $5 |
| 45 | $170 | $4.00 | $225 | $5 |
| 60 | $245 | $5.00 | $300 | $5 |
| 75 | $340 | $6.33 | $375 |
$5 |
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