If a perfectly competitive firm has total revenue equal to $400 when it produces 100 units, and if its total revenue rises to $404 when it produces 101 units, then the price charged by the firm is
A) $404.
B) $4.
C) $1.
D) $400.
Correct Answer:
Verified
Q60: If Annie has sold forty apples in
Q61: Total revenue is equal to
A) marginal cost
Q62: For a perfectly competitive firm, total revenue
Q63: The reason price equals marginal revenue in
Q64: If a perfectly competitive firm has total
Q66: When firm X sells 3 units of
Q67: A perfectly competitive firm should continue to
Q68: Profit maximization will always occur where
A) MC
Q69: For firms in perfect competition, profit maximization
Q70: If a competitive firm can increase its
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents