The Following Table Shows Revenue Data for a Firm in a Perfectly

question 175

Essay

The following table shows revenue data for a firm in a perfectly competitive industry. What is the price of output?
$\begin{array}{|c|c|}\hline \text { Output } & \text { Total Revenue (TR) } \\\hline 0 & \$ 0 \\\hline 1 & \$ 7.25 \\\hline 2 & \$ 14.50 \\\hline 3 & \$ 21.75 \\\hline 4 & \$ 29.00 \\\hline 5 & \$ 36.25 \\\hline 6 & \$ 43.50 \\\hline 7 & \$ 50.75 \\\hline\end{array}$

---

Definitions:

Americans

Residents or citizens of the United States of America.

Physically Attractive People

Individuals perceived to have physical features that are aesthetically pleasing or beautiful to others.

Competent

Having the necessary ability, knowledge, or skill to do something successfully or efficiently.

Assertive

Characterized by confident and forceful behavior or attitudes, especially in stating one's opinions or claims.