Table 14-11 Suppose That a Firm in a Competitive Market Faces the Faces

question 74

Multiple Choice

Table 14-11
Suppose that a firm in a competitive market faces the following prices and costs:

-Refer to Table 14-11.The marginal revenue from producing the 4th unit equals
(i) $5.
(ii) the price.
(iii) the marginal cost.

• A) (i) only
• B) (i) and (ii) only
• C) (ii) only
• D) (i), (ii), and (iii)