Farmer Fanny sells her crops in a perfectly competitive market.If she produces 500 bushels for total revenue of $3, 000 and if harvesting the 501st bushel would raise her total cost from $2, 500 to $2, 510, her
A) revenue will increase by $4 if she harvests the 501st bushel
B) revenue will fall by $4 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 fall by $4 if she harvests the 501st bushel
Correct Answer:
Verified
Q61: Marginal revenue is defined as
A)total revenue divided
Q62: Farmer Fanny sells her crops in a
Q63: Perfectly competitive firms that earn an economic
Q64: Exhibit 8-5 Q65: Marginal revenue is Q67: For a perfectly competitive firm, price is Q68: The slope of the total revenue curve Q69: The Hound Dog Bus Company contemplates expanding Q70: Average revenue is Q71: The Hound Dog Bus Company contemplates expanding
A)total revenue minus total cost
B)total
A)total revenue minus total cost
B)total
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