Ask Question
7 March, 09:27

Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, the average revenue of the 200th unit will be

a less than $12.

b. more than $12.

c. $12.

d. Any of the above may be correct depending on the price elasticity of demand for the product

+2
Answers (1)
  1. 7 March, 10:34
    0
    I am pretty sure it's D.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers