When a Firm in a Competitive Market Receives $5000 in Total

question 252

Multiple Choice

When a firm in a competitive market receives $5000 in total revenue,it has a marginal revenue of $100.What is the average revenue,and how many units were sold

• A)$50 and 100 units
• B)$100 and 50 units
• C)$100 and 100 units
• D)$50 and 50 units

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Definitions:

Electronic Funds Transfers

The electronic exchange or transfer of money from one account to another, either within a single financial institution or across multiple institutions.

Bank Reconciliation

The process of comparing a company's bank account balance with its financial records to identify discrepancies and ensure accuracy.

Sign Cheques

The action of signing a check as a means of authorizing a bank to transfer funds from the signer's account.

Reconciling Items

Entries that adjust discrepancies between two financial records or accounts, ensuring consistency and accuracy.