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Suppose that a firm operating in perfectly competitive marke

Paper help Economics Suppose that a firm operating in perfectly competitive marke

Economics

Suppose that a firm operating in perfectly competitive marke

Suppose that a firm operating in perfectly competitive market sells 100 units of output. Its tot… Show more; Suppose that a firm operating in perfectly competitive market sells 100 units of output. Its total revenues from the sale are $500. Which of the following statements is correct? i) Marginal revenue equals $5. ii) Average revenue equals $5. iii) Price equals $5. Answer

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