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Author Question: Consider a perfectly competitive firm producing and selling mousetraps at a market price of $5.00. ... (Read 130 times)

knemetz3

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on: Oct 12, 2022

Question 1

Consider a perfectly competitive firm producing and selling mousetraps at a market price of $5.00. If this firm is producing 1250 mousetraps, its total revenue is ________, its average revenue is ________ and its marginal revenue is ________.
◦ $6250; $250; $5
◦ $5; $5; $5
◦ $6250; $5; $5
◦ $1750; $250; $5
◦ $5000; $5; $250

Question 2

Consider a perfectly competitive firm producing and selling mousetraps at a market price of $5.00. Suppose this firm is currently selling 1750 mousetraps at the market price of $5. If the firm raises its price to $6, its total revenue will be
◦ greater than or equal to $6250.
◦ greater than $10 500.
◦ greater than or equal to $1750.
◦ $10 500.
◦ $0.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by knemetz3 on Oct 12, 2022

rhhoagland

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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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knemetz3

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

carlsona147

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Reply 3 on: Yesterday
Wow, this really help

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