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Author Question: Suppose XYZ Corp. is producing and selling disposable wooden chopsticks in a perfectly competitive ... (Read 39 times)

Gabby

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on: Oct 12, 2022

Question 1

Farmer Anna is producing tomatoes in a perfectly competitive market. In Year 1 she sells 4000 bushels of tomatoes at a price of $12.00 each. In Year 2 she sells 4800 bushels at $13.00 each. In Year 2, her average revenue is ________ and her marginal revenue is ________.
◦ $12.00; $1.00
◦ $12.50; $12.50
◦ $12.00; $12.00
◦ $13.00; $1.00
◦ $13.00; $13.00

Question 2

Suppose XYZ Corp. is producing and selling disposable wooden chopsticks in a perfectly competitive market. The market price is $0.04 per unit and the firm is currently producing 1 million units per month. The firm's total revenue is ________ per month. The firm's marginal revenue is ________.
◦ $40 000; $0.015
◦ $15 000; $0.015
◦ $40 000; $0.04
◦ $40 000; $0.025
◦ $25 000; $0.04
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Gabby on Oct 12, 2022

Burly

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Gabby

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

ghepp

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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