A perfectly competitive firm has a random demand with a 90 percent chance of being $100, a 5 percent chance of $90, and a 5 percent chance of being $80. What is the firm's expected marginal revenue?

A) $96.40 B) $98.50 C) $92.75 D) $90.50

B) $98.50

Economics

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Resources employed to persuade government to redistribute income and wealth to special interests are unproductive

a. True b. False

Economics

If consumption increases,

A) the SRAS curve will shift rightward, which will push the price level up. B) the SRAS curve will shift leftward, which will push the price level up. C) the AD curve will shift leftward, which will push the price level down. D) the AD curve will shift rightward, which will push the price level up.

Economics