# Economics 3.5 | Economics homework help

For this assignment, you will produce a marginal cost analysis graph and create a scenario that explains where the firm should set price and quantity levels.

Step One: Launch the data file to get started. Print or copy the data table before continuing to step two.

Step Two: Determine a product market (a specific good or service) appropriate to the prices listed. Make this the title of your graph and data table.

Step Three: Calculate the marginal revenue, marginal cost, and profit for each quantity level. Fill in the data table. If you need help with this step, review this case study.

Step Four: Create a graph of the data. Quantity is along the x-axis and price is along the y-axis. Graph the marginal revenue curve and the marginal cost curve.

• Correctly label the x axis as quantity and y axis as price.
• Based on the data from your table, graph the marginal revenue curve. Label the curve MR.
• Based on the data from your table, graph the marginal cost curve. Label the curve MC.