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A manufacturing firm is the sole seller of a proprietary machine learning software program. The demand schedule for this product is shown in the table
A manufacturing firm is the sole seller of a proprietary machine learning software program. The demand schedule for this product is shown in the table below.
Price Quantity Demanded
For this firm, as quantity increases:
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price and marginal revenue both fall, with their values equal to one another at each quantity level
price and marginal revenue are constant and equal to one another at each quantity level
price falls while marginal revenue stays constant
marginal revenue falls while price stays constant
price and marginal revenue both fall, with marginal revenue below price at each quantity level beyond zero
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