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?
$\begin{array}{|c|c|}\hline \text { Output } & \text { Total Revenue (TR) } \\\hline 0 & \$ 0 \\\hline 1 & \$ 7.25 \\\hline 2 & \$ 14.50 \\\hline 3 & \$ 21.75 \\\hline 4 & \$ 29.00 \\\hline 5 & \$ 36.25 \\\hline 6 & \$ 43.50 \\\hline 7 & \$ 50.75 \\\hline\end{array}$

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