The table shown displays the price and quantity produced of a good for a single firm in a perfectly competitive market.
What is the firm's marginal revenue when 25 units are produced?
Definitions:
Capital Per Worker
The amount of capital (tools, machinery, and equipment) available per employee, affecting the productivity and efficiency of labor.
Output Per Worker
A measure of labor productivity calculated by dividing total output by the number of workers.
GNP
Gross National Product, which is the total value of all goods and services produced by the residents of a country within a specific time period.
GDP
Gross Domestic Product, a measure of the total economic output of a country, representing the total value of all goods and services produced over a specific time period.
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