A Perfectly Competitive Firm Has a Random Demand with a 30

question 97

Multiple Choice

A perfectly competitive firm has a random demand with a 30 percent chance of being $15 and a 70 percent chance of being $20. What is the firm's expected marginal revenue?

• A)$15.00
• B)$18.50
• C)$19.00
• D)$20.00

---

Definitions:

Popular

Widely liked or appreciated by many people.

Socially Skilled

Possesses the abilities necessary for successful social interactions, including effective communication, empathy, and understanding social cues.

Treated Differently

The action of behaving or acting in a distinct manner towards an individual or group based on perceived differences.

Attractive

Having qualities that arouse interest or desire, particularly in the context of physical appearance or personal traits.