Suppose a Firm in a Competitive Market Earned $1,000 in Total

question 385

Multiple Choice

Suppose a firm in a competitive market earned $1,000 in total revenue and had a marginal revenue of $10 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold?

• A)$5 and 50 units
• B)$5 and 100 units
• C)$10 and 50 units
• D)$10 and 100 units

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Definitions:

NMR Spectrum

A representation of the nuclear magnetic resonance of a substance, providing detailed information about the structure, dynamics, reaction state, and chemical environment of molecules.

Compound

A substance formed from two or more elements chemically bonded together in a fixed ratio, exhibiting properties different from those of the individual elements.

Molecular Formula

A way of expressing the numbers and types of atoms in a molecule without indicating how they are connected.

NMR Spectrum

A representation of the nuclear magnetic resonance of a molecule, showcasing the different environments of hydrogen or carbon atoms.