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The Figure Given Below Shows the Revenue and Cost Curves

Question 1

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The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.1
The figure given below shows the revenue and cost curves of a perfectly competitive firm.Figure 10.1    -Suppose a perfectly competitive firm's total revenue is equal to $210 and its output is 70 units, when its marginal-cost curve intersects the marginal-revenue curve. What is the marginal revenue earned by the firm? A) $15 B) $3 C) $30 D) $7 E) $70
-Suppose a perfectly competitive firm's total revenue is equal to $210 and its output is 70 units, when its marginal-cost curve intersects the marginal-revenue curve. What is the marginal revenue earned by the firm?


A) $15
B) $3
C) $30
D) $7
E) $70

Correct Answer:

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