LO$\mathrm{.}14\mathrm{.}1\mathrm{.}3$

Suppose that in a competitive market the equilibrium price is $$2\mathrm{.}50.$ What is marginal revenue for the last unit sold by the typical firm in this market?

Less than $$2\mathrm{.}50$

$$More than $$2\mathrm{.}50$

$$Exactly $$2\mathrm{.}50$

$$The marginal revenue cannot be determined without knowing the actual quantity sold by the typical firm.