A certain competitive firm sells its output for $20 per unit.The 50th unit of output that the firm produces has a marginal cost of $22.What does the production of the 50th unit of output do

Name: A certain competitive firm sells its output for $20 per unit.The 50th unit of output that the firm produces has a marginal cost of $22.What does the production of the 50th unit of output do
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Question

Quizplus · Accepted Answer

The firm's total revenue increases by $20 when it produces the 50th unit of output because it sells each unit for $20.

A Certain Competitive Firm Sells Its Output for $20 Per