Business, 06.11.2019 05:31 maadams

Suppose that a firm operating in perfectly competitive market sells 200 units of output at a price of $3 each. which of the following statements is correct? (i) marginal revenue equals $3. (ii) average revenue equals $600. (iii) average revenue exceeds marginal revenue, but we don’t know by how much.

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Suppose that a firm operating in perfectly competitive market sells 200 units of output at a price o...