Output(units) | Total Revenue($) | Total Cost($) |
0 | 0 | 25 |
1 | 30 | 49 |
2 | 60 |
69 |
3 | 90 | 86 |
4 | 120 | 100 |
5 | 150 | 114 |
6 | 180 | 128 |
7 | 210 | 170 |
Using the table above, May you please show the calculations step by step. Thank you:)
Which gives the total revenue schedule and total cost schedule of a perfectly competitive firm. The short-run equilibrium price of one unit of the good is:
A) $3.
B) $10.
C) $15.
D) $25.
E) $30.
May you please show the calculations step by step. Thank you:)
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