Question

If a firm under perfect competition sells 10,000 units of a good at a market price of $5, its marginal revenue is: A) higher than zero but lower than $5. B) zero; as it must be the case for a competitive firm. C) $5. D) $50,000.

Name: if a firm under perfect competition sells 10000 units of a good at a market price of 5 its marginal revenue is a higher than zero but lower than 5 b zero as it must be the case for a competi 40064
Uploaded: 2023-07-19T10:09:59-08:00
Duration: 1 min 15 s
Channel: Oluwadamilola Ameobi
Description: if a firm under perfect competition sells 10000 units of a good at a market price of 5 its marginal revenue is a higher than zero but lower than 5 b zero as it must be the case for a competi 40064

          If a firm under perfect competition sells 10,000 units of a good at a market price of $5, its marginal revenue is:
A) higher than zero but lower than $5.
B) zero; as it must be the case for a competitive firm.
C) $5.
D) $50,000.

if a firm under perfect competition sells 10000 units of a good at a market price of 5 its marginal revenue is a higher than zero but lower than 5 b zero as it must be the case for a competi 40064

Added by Sheila T.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Oluwadamilola Ameobi

07/19/2023

Step 1

This means they can sell as much as they want at the market price. Show more…

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If a firm under perfect competition sells 10,000 units of a good at a market price of $5, its marginal revenue is: A) higher than zero but lower than $5. B) zero; as it must be the case for a competitive firm. C) $5. D) $50,000.