The accompanying table represents the quantity produced, the total revenue, and the total cost of a firm
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Question:
The accompanying table represents the quantity produced, the total revenue, and the total cost of a firm operating in a perfectly competitive market. Refer to this table to answer the following questions.
Quantity | Total Revenue | Total Cost |
0 | $0 | $3 |
1 | $5 | $5 |
2 | $10 | $9 |
3 | $15 | $13 |
4 | $20 | $19 |
Assuming that all firms have the same cost structure, the price is
options:
$5. | |
$3. | |
$10. | |
$2. | |
$9. |
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