Solved

The Table Given Below Shows the Price of Each Unit

Question 98

Multiple Choice

The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output.Table: 10.1
The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output.Table: 10.1    -A firm's total revenue is $400 for 8 units of output, $600 for 12 units of output, and $1,100 for 22 units of output. Evidently this firm is operating in a(n) : A) perfectly competitive market. B) monopolistic market. C) monopsonist market. D) monopolistically competitive market. E) oligopolistic market.
-A firm's total revenue is $400 for 8 units of output, $600 for 12 units of output, and $1,100 for 22 units of output. Evidently this firm is operating in a(n) :


A) perfectly competitive market.
B) monopolistic market.
C) monopsonist market.
D) monopolistically competitive market.
E) oligopolistic market.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions