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Petes Electronics is a small company that produces 8 gigabyte flash drives in a perfectly competitive market. The market price for 8 gigabyte flash drives

Pete’s Electronics is a small company that produces 8 gigabyte flash drives in a perfectly competitive market. The market price for 8 gigabyte flash drives is $15 each.

a. Complete the table below with the total revenue (TR), marginal revenue (MR), and average revenue (AR) for Pete’s Electronics.

Pete’s Electronics Flash Drive Revenue

Quantity

(8GB flash drives)

TR

(dollars)

MR

(dollars)

AR

(dollars)

10

$

$

$

20

30

40

50

60


b. Draw the marginal revenue (MR) and average revenue (AR) curve for Pete’s Electronics for quantities 10 to 60.

Instructions :

Use the tool provided 'MR = AR' and plot only the endpoints such that the first point is for a quantity of 10 and the last point is for a quantity of 60.

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