If a Firm in Perfect Competition Sells 10 Units of Output

question 14

Multiple Choice

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

• A) $5.
• B) more than $5 but less than $50.
• C) $50.
• D) $250.

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Definitions:

Single Wavelength

A specific frequency of light or electromagnetic radiation, often used in scientific and technical contexts to describe a monochromatic beam.

Sensory Adaptation

The process by which sensory receptors change their sensitivity to a stimulus over time, often leading to a decrease in sensitivity to a constant stimulus.

Saturation

In a general context, the state or process that occurs when no more of something can be absorbed, combined with, or added.

Complexity

The state or quality of being intricate or complicated, often referring to systems or problems with multiple interrelated parts.