A Competitive Firm Sells 500 Units of Output and Its

question 233

Short Answer

A competitive firm sells 500 units of output and its marginal revenue at 500 units of output is $35. The firm's total revenue amounts to __________.

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Definitions:

Terminal Moraine

A moraine deposited at the point of furthest advance of a glacier or ice sheet, marking its maximum extent.

Kettle

A pitlike depression in glacial deposits, commonly a lake or swamp; formed by the melting of a large block of ice that had been at least partly buried in the glacial deposits.

Coastal Dunes

Sand formations located near coastlines, formed by the wind's movement of sand.

Shorelines

The boundary line between land and a body of water, such as a sea, lake, or river.