Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, the average revenue of the 200th unit will be
A) less than $12.
B) more than $12.
C) $12.
D) Any of the above may be correct depending on the price elasticity of demand for the product.
Correct Answer:
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