Figure 7.4
-Suppose that Figure 7.4 shows an industryʹs market demand, its marginal revenue, and the production costs of a representative firm. If the industry was perfectly competitive, it would produce a quantity of:
A)30 units.
B)50 units.
C)60 units.
D)There is not sufficient information.

Question

Figure 7.4
-Suppose that Figure 7.4 shows an industryʹs market demand, its marginal revenue, and the production costs of a representative firm. If the industry was perfectly competitive, it would produce a quantity of:
A)30 units. 
B)50 units. 
C)60 units. 
D)There is not sufficient information.

Quizplus · Accepted Answer

The Answer of  Figure 7.4
-Suppose that Figure 7.4 shows an industryʹs market demand, its marginal revenue, and the production costs of a representative firm. If the industry was perfectly competitive, it would produce a quantity of:
A)30 units. 
B)50 units. 
C)60 units. 
D)There is not sufficient information.

Figure 7.4 -Suppose That Figure 7.4 Shows an Industryʹs Market Demand, Its