Use the following to answer questions: Table: Competitive Firm
-(Table: Competitive Firm) Refer to the table. The market price for the product is:
A) $90.
B) $80.
C) $100.
D) A dollar amount, but it cannot be determined from the information in the table.

Question

Use the following to answer questions: Table: Competitive Firm 
-(Table: Competitive Firm) Refer to the table. The market price for the product is:
A) $90. 
B) $80. 
C) $100. 
D) A dollar amount, but it cannot be determined from the information in the table.

Quizplus · Accepted Answer

The market price is the price at which the firm can sell its output. In this case, the firm can sell its output for $90 per unit.

Use the Following to Answer Questions: Table: Competitive Firm