EOC 14.07

Tony owns a company in a competitive market that generates $1500 in total revenue and has a marginal revenue of $30. If Tony is maximizing profit what quantity of goods are being sold and at what price?

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a

$30 and 50 units

b

$50 and 30 units

c

$75 and 20 units

d

$30 and 30 units

e

$15 and 100 units

f

$60 and 25 units