Suppose a firm in a competitive market produces and sells 8 units of output and has a marginal revenue of $8.00. what would be the firm's total revenue if it instead produced and sold 4 units of output?
(a) $4.00
(b) $8.00
(c) $32.00
(d) $64.00
(e) cannot be determined with the information given.
Answers: 2
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