This graph illustrates the demand faced by a firm.
Refer to the figure above.The firm will charge a price of $8 only if:

Name: This graph illustrates the demand faced by a firm. Refer to the figure above.The firm will charge a price of $8 only if:
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Question

This graph illustrates the demand faced by a firm. 
Refer to the figure above.The firm will charge a price of $8 only if:

Quizplus · Accepted Answer

At $8 the firm will sell 5 units for total revenue of $40.The firm sold 4 units at $10,also for total revenue of $40.Marginal revenue at $8 is zero,so the firm will choose that price/quantity combination only if marginal cost is zero.

This Graph Illustrates the Demand Faced by a Firm