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Given a perfectly competitive market structure, suppose a firm's total revenue equals $210 and its output is 70 units when the firm's marginal-cost curve intersects
- Given a perfectly competitive market structure, suppose a firm's total revenue equals $210 and its output is 70 units when the firm's marginal-cost curve intersects its marginal-revenue curve. Since the firm is a profit-maximizing firm, what is marginal revenue equal to?
- A.$15
- B.$3
- C.$30
- D.$7
- E.$70
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Using R For Econometrics
Authors: Florian Heiss
1st Edition
1523285133, 9781523285136
