Pete's Electronics is a small company that produces 8 gigabyte flash drives in a perfectly competitive market. The market price for 8 gigabyte flash drives is $20 each. Complete the table below with the total revenue (TR), marginal revenue (MR), and average revenue (AR) for Pete's Electronics. Instructions: Enter your answers as a whole number. Pete's Electronics Flash Drive Production Revenues Quantity (8GB flash drives) TR (dollars) MR (dollars) AR (dollars) $ $ $ 5 20 35 50 65 80
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The market price for 8 gigabyte flash drives is $20 each. This means that Pete's Electronics can sell each flash drive for $20. Show more…
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