3. Giovanni Briganti, the owner of Picante Tomatoes sells 600 kg of tomatoes at a price...

 

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3. Giovanni Briganti, the owner of "Picante Tomatoes" sells 600 kg of tomatoes at a price of $2 per kilogram. He finds that he can increase his revenue to $1296 when he sells another 48 kg. • Calculate total revenue, average revenue, and marginal revenue for this product at each output level. • Is the business an example of a perfect competitor? Explain • What is the relationship among the business's price, marginal revenue, and average revenue. What factors are responsible for this relationship? 3. Giovanni Briganti, the owner of "Picante Tomatoes" sells 600 kg of tomatoes at a price of $2 per kilogram. He finds that he can increase his revenue to $1296 when he sells another 48 kg. • Calculate total revenue, average revenue, and marginal revenue for this product at each output level. • Is the business an example of a perfect competitor? Explain • What is the relationship among the business's price, marginal revenue, and average revenue. What factors are responsible for this relationship?

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