If a Perfectly Competitive Firm Sells 300 Units of Output

question 32

Multiple Choice

If a perfectly competitive firm sells 300 units of output at $1 per unit,its marginal revenue is:

• A)less than $1.
• B)$1.
• C)more than $1 but less than $300.
• D)$300.

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Definitions:

Small-town Store

A retail establishment located in a small community, often offering a range of products tailored to local residents.

Terminate

To bring something to an end or conclusion, often used in the context of ending employment, contracts, or legal relationships.

Agency

A relationship between two parties in which one party (the agent) agrees to represent or act for the other (the principal).

Improbable

Unlikely to occur or be true.