If a Perfectly Competitive Firm Sells 10 Units of Output

question 141

Multiple Choice

If a perfectly competitive firm sells 10 units of output at $30 per unit,its marginal revenue is:

• A)$10.
• B)$30.
• C)more than $30.
• D)$300.

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Definitions:

Normlessness

A state or condition where social norms are absent, weak, or conflicting, leading to social instability and alienation.

Modern Life

Describes the lifestyle and societal conditions that are characteristic of the contemporary era, often associated with technology, urban living, and fast-paced changes.

Opiate of the Masses

A metaphor for something that dulls awareness and leads to passive acceptance, originally describing religion's effect on society and its divisions.

Working Class

A social group consisting of people employed in lower tier jobs, often involving manual labor or industrial work, and typically characterized by lower income and educational levels.