Farmer Fanny sells her crops in a perfectly competitive market.If she produces 500 bushels for total revenue of $2, 500 and if harvesting the 501st bushel would raise her total cost from $2, 500 to $2, 505, her
A) revenue will increase by $10 if she harvests the 501st bushel
B) revenue will fall by $5 if she harvests the 501st bushel
C) average fixed cost will rise if she harvests the 501st bushel
D) profit will fall by $10 if she harvests the 501st bushel
E) profit will remain unchanged if she harvests the 501st bushel
Correct Answer:
Verified
Q57: Exhibit 8-4 Q58: Exhibit 8-4 Q59: Exhibit 8-2 Q60: If, as a firm increases its rate Q61: Marginal revenue is defined as Q63: Perfectly competitive firms that earn an economic 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![]()
![]()
![]()
A)total revenue divided