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-Farmer Brown Produces Corn in a Perfectly Competitive Market

Question 443

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-Farmer Brown produces corn in a perfectly competitive market. Farmer Brown produces and sells 500 bushels of corn. The market supply and demand curves are illustrated in the above figure. a) What is Farmer Brown's total revenue? b) What is Farmer Brown's marginal revenue?
-Farmer Brown produces corn in a perfectly competitive market. Farmer Brown produces and sells 500 bushels of corn. The market supply and demand curves are illustrated in the above figure.
a) What is Farmer Brown's total revenue?
b) What is Farmer Brown's marginal revenue?

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a) Total revenue = price × quantity. The...

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