Question: Refer to the table below. In this instance, confirmation that this firm is operating in a perfectly competitive market can readily be ascertained by the

Refer to the table below. In this instance, confirmation that this firm is operating in a perfectly competitive market can readily be ascertained by the fact that its
Q
P
TR
MR
TC
MC
0
$30
0
---
$15
---
1
$30
$30
$30
$25
$10
2
$30
$60
$30
$40
$15
3
$30
$90
$30
$60
$20
4
$30
$120
$30
$85
$25
5
$30
$150
$30
$115
$30
6
$30
$180
$30
$150
$35
Question 11 options:
a)
marginal cost is increasing.
b)
total cost is increasing.
c)
marginal revenue is constant.
d)
economic profits are zero.

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