If a Perfectly Competitive Firm Has Total Revenue Equal to $400

question 115

Multiple Choice

If a perfectly competitive firm has total revenue equal to $400 when it produces 100 units, and if its total revenue rises to $404 when it produces 101 units, then the price charged by the firm is

• A) $404.
• B) $4.
• C) $1.
• D) $400.

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Definitions:

Team Members

Individuals who are part of a group collaboratively working towards a common goal or project.

Group Norms

Shared guidelines or rules of behavior that are expected and followed by members of a group or team.

Task Force

A temporary group of people formed to accomplish a specific goal, often used to address complex or urgent issues within organizations.

Ethical Behaviors

Actions that are consistent with principles of moral and ethical standards; behaving in a manner that is considered morally right.