A perfectly competitive firm's total revenue is equal to which of the following? Select one: a....

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A perfectly competitive firm's total revenue is equal to which of the following? Select one: a. average revenue multiplied by price. b. the revenue received on the last unit sold, C. price times quantity of the product sold, divided by quantity of the product sold d. marginal revenue times quantity of the product sold. e. price multiplied by marginal revenue Suppose ABC Corp. is a firm producing newsprint in a perfectiy competitive industry. We have the following information about the firm's production: - output (Q) = 1,500 tonnes per month -average total cost (ATC) = $627 per tonne - average variable cost (AVC) 5614 per fonne - marginal revenue (MR) = $620 per tonne - marginal cost (MC) = 5620 per tanne At the cutrent level of output, this firm is profit and in earning economic profit of per manth. Select one a, maximizing $10,500 b. maximizing $10,500 C not maximizing -$0,000 d. not maximizing 510,500 A perfectly competitive firm's total revenue is equal to which of the following? Select one: a. average revenue multiplied by price. b. the revenue received on the last unit sold, C. price times quantity of the product sold, divided by quantity of the product sold d. marginal revenue times quantity of the product sold. e. price multiplied by marginal revenue Suppose ABC Corp. is a firm producing newsprint in a perfectiy competitive industry. We have the following information about the firm's production: - output (Q) = 1,500 tonnes per month -average total cost (ATC) = $627 per tonne - average variable cost (AVC) 5614 per fonne - marginal revenue (MR) = $620 per tonne - marginal cost (MC) = 5620 per tanne At the cutrent level of output, this firm is profit and in earning economic profit of per manth. Select one a, maximizing $10,500 b. maximizing $10,500 C not maximizing -$0,000 d. not maximizing 510,500

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QUESTION 22 Answer is D In a perfectly competitive market structu... View the full answer