Fill out microeconomics table | Economics homework help

You are an economic consultant and encounter a firm with the following data:

 

Quantity of Labor	Fixed Costs	Variable Costs	Total Costs	Quantity	Marginal Costs
5	$150			20
6	$150			28
7	$150			34
8	$150			38

 

The wage rate is $8 per unit. Fill in the rest of the table.

 

The price-quantity combination is as follows:

Fill in the rest of the table

 

Price	Quantity	TR	MR
$10.50	20
$9.24	28
$7.87	34
$6.33	38

 

What is the profit-maximizing price and quantity and what is

the profit at that point?