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If a tree casts a shadow of 5 ft 7 in. at the same time that a 5-ft 7-in. person casts a shadow of 1 ft 6 in., find the height of the tree (to the nearest inch).
__________ ft __________ in
Average Revenue
The amount of income generated per unit of sale or the total income divided by the number of units sold.
Purely Competitive Seller
A seller in a market that has many buyers and sellers, with all firms selling identical products and no barriers to entry.
Marginal Revenue
The boost in revenue experienced by a company when it sells an extra unit of its goods or services.
Purely Competitive Firm
A company that operates in a market where there are many sellers and buyers, the products are homogeneous, and there is free entry and exit from the market.
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