If a competitive firm is selling 500 units of its product at a price of $8 per unit and earning a positive profit, then a. its average revenue is greater than $8. b. its total cost is less than $4,000. c. its marginal revenue is less than $8. d. All of the above are correct.
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Home » Business » If a competitive firm is selling 500 units of its product at a price of $8 per unit and earning a positive profit, then a. its average revenue is greater than $8. b. its total cost is less than $4,000. c. its marginal revenue is less than $8. d.