If the Market Price Is $25 in a Perfectly Competitive

question 165

Multiple Choice

If the market price is $25 in a perfectly competitive market, the marginal revenue from selling the fifth unit is

• A)$5.
• B)$12.50.
• C)$25.
• D)$125.

---

Definitions:

Vacant Plot

An empty piece of land that has not been developed or built upon.

Fencing

The sport of fighting with swords, particularly foils, épées, or sabres, according to set rules; also refers to a barrier or structure serving as a boundary or means of protection.

Mowing

The process of cutting down grass or other vegetation to maintain land or lawn appearance and health.

Special Warranty Deed

A type of deed in which the seller guarantees the title only against defects arising during their ownership and not against defects existing before that time.