If a Firm in Perfect Competition Sells 10 Units of Output

question 302

Multiple Choice

If a firm in perfect competition sells 10 units of output at $5 per unit,its marginal revenue is:

• A)$5.
• B)more than $5 but less than $50.
• C)$50.
• D)$250.

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Definitions:

Long-term Enterprise

A business or company designed with the intention of achieving objectives and growth over an extended period, focusing on sustainability and long-range planning.

Strategic Planning Process

A systematic series of steps that an organization follows to define its strategy or direction and make decisions on allocating resources to pursue this strategy.

Mission Statement

A brief description of a company's fundamental purpose, outlining its objectives and guiding principles.

Heart

In a biological context, it is the muscle that pumps blood through the circulatory system; in a metaphorical sense, it can be considered the core or central part of something.