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

Economics

How does a self-contained unit benefit a firm?

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Economics

Suggested donations on fundraising items sent to you in the mail is an example of:

A. loss aversion. B. positive framing. C. anchoring. D. rule of thumb.

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Economics