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A Firm Sells Apples in a Perfectly Competitive Market at a Price

Question 27

Multiple Choice

A firm sells apples in a perfectly competitive market at a price of $1.50 per kilogram. What is the firm's marginal revenue?


A) It is equal to $1.00.
B) It is equal to $1.50.
C) It is greater than $1.50.
D) It is less than $1.00.

Correct Answer:

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