Assume you know the following short run information for a perfectly competitive firm: $\begin{array}{c}
\begin{array}{lll}
\text {Quantity}\
\
6 \
7 \
8 \
9 \
10 \
11
\end{array}
\begin{array}{lll}
\text {Price}\
\
10\
\
\
\
\
\
\end{array}
\begin{array}{cc}
\text { Total } & \text { Marginal } \
\text { Revenue } & \text { Revenue }\
\
\
\
\
\
\
\end{array}
\begin{array}{lll}
\text {Total}\
\text {Cost}\
30\
\

51\
62 \
75\
90
\end{array}
\begin{array}{cc}
\text { Marginal } & \text { Total } \
\text { Cost } & \text { Profil } \
& 30 \
& 35 \
& 42\
\
\
\
\end{array}
\end{array}$
Based on the information above, which of the following is true?

Question

Assume you know the following short run information for a perfectly competitive firm: $\begin{array}{c}
\begin{array}{lll}
\text {Quantity}\
\
6 \
7 \
8 \
9 \
10 \
11 
\end{array}
\begin{array}{lll}
\text {Price}\
\
10\
\
\
\
\
\ 
\end{array}
\begin{array}{cc}
\text { Total } & \text { Marginal } \
\text { Revenue } & \text { Revenue }\
\
\
\
\
\
\
\end{array}
\begin{array}{lll}
\text {Total}\
\text {Cost}\
30\
\

51\
62 \
75\
90 
\end{array}
\begin{array}{cc}
\text { Marginal } & \text { Total } \
\text { Cost } & \text { Profil } \
& 30 \
& 35 \
& 42\
\
\
\ 
\end{array}
\end{array}$
 Based on the information above, which of the following is true?

Quizplus · Accepted Answer

The Answer of Assume you know the following short run information for a perfectly competitive firm: $\begin{array}{c}
\begin{array}{lll}
\text {Quantity}\
\
6 \
7 \
8 \
9 \
10 \
11 
\end{array}
\begin{array}{lll}
\text {Price}\
\
10\
\
\
\
\
\ 
\end{array}
\begin{array}{cc}
\text { Total } & \text { Marginal } \
\text { Revenue } & \text { Revenue }\
\
\
\
\
\
\
\end{array}
\begin{array}{lll}
\text {Total}\
\text {Cost}\
30\
\

51\
62 \
75\
90 
\end{array}
\begin{array}{cc}
\text { Marginal } & \text { Total } \
\text { Cost } & \text { Profil } \
& 30 \
& 35 \
& 42\
\
\
\ 
\end{array}
\end{array}$
 Based on the information above, which of the following is true?

Assume You Know the Following Short Run Information for a Perfectly