Suppose a Firm in a Competitive Market Earned $1,000 in Total

question 385

Multiple Choice

Suppose a firm in a competitive market earned $1,000 in total revenue and had a marginal revenue of $10 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold?

• A)$5 and 50 units
• B)$5 and 100 units
• C)$10 and 50 units
• D)$10 and 100 units

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Definitions:

Job Satisfaction

The level of contentment a person feels with regard to their job, which can affect their productivity and overall well-being.

Job Burnout

A state of physical, emotional, and mental exhaustion caused by prolonged stress and dissatisfaction in the workplace.

Realistic Goal

An achievable and practical objective that an individual or organization aims to reach within a specific timeframe.

Right Amount

The optimal quantity or degree of something that achieves a desired outcome or condition.