Table 1 shows total costs and profit for different levels of output produced by a firm.
| Output (units) | Total cost (£) | Profit (£) |
|---|---|---|
| 40 | 700 | 500 |
| 80 | 1100 | 900 |
| 120 | 1520 | 1000 |
When the firm increases its output from
40 to 80, the price falls by £4
40 to 80, the price falls by £6
80 to 120, the price falls by £3
80 to 120, the price falls by £4
