If a Nondiscriminating Imperfectly Competitive Firm Is Selling Its 100th

question 53

Multiple Choice

If a nondiscriminating imperfectly competitive firm is selling its 100th unit of output for $35, its marginal revenue

• A) may be either greater or less than $35.
• B) will also be $35.
• C) will be less than $35.
• D) will be greater than $35.

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Definitions:

International Trade

The exchange of goods and services between countries, driven by comparative advantages.

Exports And Imports

The transactions in goods and services where exports refer to selling domestically produced goods or services abroad, and imports are those bought from foreign producers.

Diverse Quantity

A variety in the amount or number of items or elements in a set.

Implicit Marginal Tax

The incidental tax effect on an individual’s additional income due to loopholes, deductions, or exemptions in the tax system.