Microeconomics With Simple Mathematics Pdf [better] -

Total Revenue (TR) minus Total Cost (TC). But the magic rule is: Profit is maximized when Marginal Revenue (MR) = Marginal Cost (MC) .

Qs = 10 + 2(2) = 14

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| Quantity | Price | TR | TC | Profit | MR | MC | |----------|-------|----|----|--------|----|----| | 0 | – | 0 | 10 | -10 | – | – | | 1 | 20 | 20 | 18 | 2 | 20 | 8 | | 2 | 18 | 36 | 24 | 12 | 16 | 6 | | 3 | 16 | 48 | 32 | 16 | 12 | 8 | | 4 | 14 | 56 | 42 | 14 | 8 | 10 | Total Revenue (TR) minus Total Cost (TC)