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The stationery tape industry is perfectly competitive, where firms sell each box of tape (with 6 rolls of tape) for $7.25. There are 3,700 identical
The stationery tape industry is perfectly competitive, where firms sell each box of tape (with 6 rolls of tape) for $7.25. There are 3,700 identical firms in the industry. Your answer should include only numbers and a decimal (if applicable). Do not include the $-sign or comma (,) in your answer. If your answer is not an integer, round it to the nearest cent (two decimal places). If your answer is an integer, do not add the ".00" at the end of your answer. For example, if your answer is $1, typing in "1" is the correct answer format. Do not type in "1.00". For the average firm: their marginal revenue for the last box of tape sold is equal to $ 7.25 . their average revenue is equal to $ 7.25 their marginal cost for the last box of tape produced is equal to $ 5 the profit earned on the last box of tape sold is equal to $
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