Question

Calculating MR and MC while using Trapezoidal Rule

<p>A manufacturer estimated marginal cost (MC) and marginal revenue (MR) at various levels of output (q):<br /><br />q(units) 0 20 40 60 80 100 120<br />MC($per unit) 260 250 240 200 240 250 250 <br />MR($per unit) 410 350 300 250 270 250 240<br /><br />1) Use trapezoid rule to estimatethe revenue and variable production cost for 100 units.<br /><br />2) Assuming that profit is maximized when MR=MC, estimate the maximum profit if thefixed cost is 2000.<br /><br />**I am stuck trying to come up with an equation we can use along with the trapezoidal rule to estimate the revenue andvariable production costs for 100 units. Any help would be appreciated!<br /><br />Cheers, <br /><br />Tom</p>

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