Solved

When a Firm in a Competitive Market Receives $5000 in Total

Question 33

Multiple Choice
When a firm in a competitive market receives $5000 in total revenue,it has a marginal revenue of $100.What is the average revenue,and how many units were sold

When a firm in a competitive market receives $5000 in total revenue,it has a marginal revenue of $100.What is the average revenue,and how many units were sold


A) $50 and 100 units
B) $100 and 50 units
C) $100 and 100 units
D) $50 and 50 units

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q28: Starting from a situation in which a

Q29: Table 14-2
Table 14-2 </p></div><svg width=

Q30: For any given price,a firm in a

Q31: When a firm in a competitive market

Q32: What will change for a perfectly competitive

Q34: Table 14-2
Table 14-2 </p></div><svg width=

Q35: Table 14-2
Table 14-2 </p></div><svg width=

Q36: Table 14-2
Table 14-2 </p></div><svg width=

Q37: Starting from a situation in which a

Q38: Table 14-2
Table 14-2 </p></div><svg width=

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents