If a perfectly competitive firm decreases production from 11 units to 10 units and the market price is $20 per unit, total revenue for 10 units is:

Name: If a perfectly competitive firm decreases production from 11 units to 10 units and the market price is $20 per unit, total revenue for 10 units is:
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Question

Quizplus · Accepted Answer

Total revenue is calculated by multiplying the quantity of units sold by the market price per unit. For 10 units at $20 each, total revenue is 10 * $20 = $200.

If a Perfectly Competitive Firm Decreases Production from 11 Units