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5 June, 00:04

Dimitri has several apple trees in his yard, and apples are a perfectly competitive market with a price of $2 per pound. if dimitri sells apples at the farmer's market, what is his total revenue and marginal revenue when he sells the 100th pound of apples?

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  1. 5 June, 00:23
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    The total revenue and the marginal revenue when he sells the 100th pound of apples is

    total revenue is $200 (100 * 2) and marginal revenue is $2 (the price of the apple per pound in the market)

    So the answer is the total revenue of Dimitri is $200 while the marginal revenue is $2.
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