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:

Ideological Dilemma

A situation where conflicting beliefs, principles, or values create confusion or challenges in decision-making processes.

Colonial Assemblies

Elected bodies in the American colonies that represented colonists and had the authority to legislate and make decisions on local matters.

Acts of Parliament

Legislation passed by the Parliament, which forms the statutory laws of the country.

Stamp Act

A 1765 British law imposed on the American colonies requiring them to pay a tax on printed materials, which led to widespread protest.