Author Question: If a perfectly competitive firm sells 10 units of output at a market price of 5 per unit, its ... (Read 80 times)

biggirl4568 · **on:** Jun 30, 2018

If a perfectly competitive firm sells 10 units of output at a market price of 5 per unit, its marginal revenue per unit is:
a. 5.
b. 50.
c. more than 5 but less than 50.
d. less than 5.

Question 2

A law requiring sellers to pay the government a tax per pack on cigarettes has the effect of:
a. shifting the supply curve to the right.
b. shifting the demand curve to the right.
c. shifting the supply curve to the left.
d. shifting the demand curve to the left.