Directions: Study the data given below and answer the following question. The table provides cost and price information for a firm called Comfy Cushions (CC). The firm produces and sells cushions using a fixed amount of capital equipment but can change the level of inputs such as labour and materials. | Production (Q) | Price per unit (P) | Total cost (TC) | Average total cost (ATC) | Marginal cost (MC) | Total revenue (TR) | Marginal Revenue per unit (MR) | | --- | --- | --- | --- | --- | --- | --- | | 0 | 250 | 500 | | | | | | 1 | 240 | 730 | | | | | | 2 | 230 | 870 | | | | | | 3 | 220 | 950 | | | | | | 4 | 210 | 1010 | | | | | | 5 | 200 | 1090 | | | | | | 6 | 190 | 1230 | | | | | | 7 | 180 | 1470 | | | | | | 8 | 170 | 1850 | | | | | | 9 | 160 | 2410 | | | | | Calculate CC's maximum profit or minimum loss.
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