A perfect competitive firm has marginal revenue of $45 per unit. Which of the following is...
A perfect competitive firm has marginal revenue of $45 per unit. Which of the following is true if the firm can produce 650 units for a total cost of $2585, 651 units for a cost of $2630 and 652 units for a cost of 2685?
Homework Answers
Ans) the answer is : the firm should produce at 652 units.
At Profit maximization, Marginal revenue is equal to marginal cost.
Marginal of 652 units = 2630 - 2585 = 45
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A perfect competitive firm has marginal revenue of $45 per unit.
Which of the following is...
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For a perfectly competitive firm, marginal revenue equals marginal cost at 250 units of output. At...
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Microeconomic question
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When a competitive firm will produce and earn economic profits. marginal revenue = average total cost...
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Microeconomic question
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