A competitive firm sells its output for $30 per unit. Is the firm's marginal revenue less than, equal to, or greater than $30?
For a competitive firm, price is equal to marginal revenue for all levels of output. Therefore, the firm's marginal revenue is equal to $30.
Economics
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In the long-run, a firm in monopolistic competition has
A) a price that exceeds its average total cost. B) a price that exceeds its marginal cost. C) an average total cost that exceeds its price. D) a marginal cost that exceeds its price.
Economics
A tariff is a tax imposed by a government on imports
Indicate whether the statement is true or false
Economics