The total revenue of a purely competitive firm from selling 200 units of output is $1,000. Based on this information, the unit price of the output must be
A)$5.
B)$1,200.
C)$200,000.
D)$800.

Name: The total revenue of a purely competitive firm from selling 200 units of output is $1,000. Based on this information, the unit price of the output must be A)$5. B)$1,200. C)$200,000. D)$800.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The unit price is found by dividing total revenue by the number of units sold. So, $1,000 / 200 units = $5 per unit.

The Total Revenue of a Purely Competitive Firm from Selling