Table 14-3
Use the information for a competitive firm in the table below to answer the following questions.

-Refer to Table 14-3.At which quantity of output is marginal revenue equal to marginal cost?

Question

Table 14-3
Use the information for a competitive firm in the table below to answer the following questions.
 
-Refer to Table 14-3.At which quantity of output is marginal revenue equal to marginal cost?

Quizplus · Accepted Answer

Marginal revenue equals marginal cost at the quantity of output where the additional revenue from selling one more unit is equal to the additional cost of producing that unit. In this case, it occurs at quantity 6.

Table 14-3 Use the Information for a Competitive Firm in the Table