If a Perfectly Competitive Firm Sells 10 Units of Output

question 169

Multiple Choice

If a perfectly competitive firm sells 10 units of output at a market price of $5 per unit, its marginal revenue per unit is:

• A) $5.
• B) $50.
• C) more than $5 but less than $50.
• D) less than $5.

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Definitions:

Unemployed Workers

Individuals who are without a job but are actively seeking employment.

Sectoral Shifts

Changes in economic activity or labor market demand across different sectors or industries over time.

Temporarily Cause Unemployment

Situations or policies that lead to a short-term increase in unemployment, as workers transition between jobs or industries adjust to new conditions.

Sectoral Shifts

Changes in the economic landscape that cause resources (like labor) to move from one industry or sector to another, often due to technological changes or globalization.