The owner of ProPhone has charted the company's marginal revenue and marginal cost for its latest line of smartphones, the Blazer. Use the chart to calculate the company's profit. What is the difference between marginal cost and marginal revenue at the point when profits are maximized on the chart

$10

Explanation:

Quantity                 Total revenue - total cost        Profit / loss

0                                              0 - 90                               (90)  

1                                           200 - 170                                30

2                                          360 - 200                             160

3                                          480 - 290                             190

4                                          600 - 340                            260

5                                          700 - 400                            300

6                                          810 - 500                             310

7                                           910 - 620                            290

Since the profits are maximized when 6 units are sold, the marginal revenue for the 6th unit = selling price 6th unit - selling price 5th unit = $810 - $700 = $110

The marginal cost for the 6th unit = cost 6th unit - cost 5th unit = $500 - $400 = $100

The difference between marginal revenue and marginal cost for the 6th unit = $110 - $100 = $10

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