Suppose a perfectly competitive firm's total revenue is equal to $210 and its output is 70 units, when its marginal-cost curve intersects the marginal-revenue curve. What is the marginal revenue earned by the firm?
a. $15
b. $3
c. $30
d. $7
e. $70
b
Economics
You might also like to view...
Refer to the scenario above. Suppose the discount weight attached to the future benefit is 1/5. People will earn a net benefit equal to:
A) -500 utils. B) -700 utils. C) 860 utils. D) 900 utils.
Economics
Any point on a production possibilities frontier (PPF) itself is
A) production efficient. B) unattainable. C) inefficient. D) equitable.
Economics
Everything else held constant, an autonomous tightening of monetary policy will cause
A) the quantity of aggregate demand to increase. B) the quantity of aggregate demand to decrease. C) aggregate demand to increase. D) aggregate demand to decrease.
Economics
If economic profit is zero, then a normal profit is earned
a. True b. False Indicate whether the statement is true or false
Economics