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Table 84 -Refer to Table 8

Question 196

Multiple Choice

Table 8.4
 Quantity  of Output  Market Price ($)  00105205305405505\begin{array}{cc}\begin{array}{c}\text { Quantity } \\\text { of Output }\end{array} & \text { Market Price (\$) } \\\hline 0 & 0 \\10 & 5 \\20 & 5 \\30 & 5 \\40 & 5 \\50 & 5\end{array}
-Refer to Table 8.4,which shows the output supplied by a firm and its total revenue.As this is a competitive market structure,what is the difference between average revenue and marginal revenue?


A) It varies with output.
B) It stays constant at $50.
C) It gradually increases by decreasing amounts.
D) It gradually increases by increasing amounts.
E) It ranges from a low of $50 to a high of $250.

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