Please help me by making sure the answer is correct as well as providing the answer for the last part. Suppose that Falero is one of more than a hundred competitive firms in Chicago that produce such cardboard boxes.Based on the preceding graph showing the daily market demand and supply curves, the price Falero must take as given is$5Fill in the price and the total, marginal, and average revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day.QuantityPriceTotal RevenueMarginal RevenueAverage Revenue(Вохes)(Dollars per box)(Dollars)(Dollars)(Dollars per box)110315The demand curve that Falero faces is identical to which of its other curves? Check all that apply.Marginal revenue curveMarginal cost curveAverage revenue curveSupply curveLOLO 2. The demand curve facing a competitive firmThe following graph shows the daily market for extra-large cardboard boxes in Chicago.(?5045Supply40Demand3530252015105+++0 1234789.10QUANTITY (Millions of extra-large boxes)PRICE (Dollars per extra-large box)

The perfect competition is the market condition in which there are many buyers and sellers in the…

Suppose that Falero is one of more than a hundred competitive firms in Chicago that produce such cardboard boxes. Based on the preceding graph showing the daily market demand and supply curves, the price Falero must take as given is $5 Fill in the price and the total, marginal, and average revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day. Price Total Revenue Average Revenue Quantity (Вохes) Marginal Revenue (Dollars per box) (Dollars) (Dollars) (Dollars per box) 5 1 5 5 2 5 10 5 5 3 15 5 The demand curve that Falero faces is identical to which of its other curves? Check all that apply. Marginal revenue curve O Marginal cost curve O Average revenue curve O Sunply cuno

Suppose that Falero is one of more than a hundred competitive firms in Chicago that produce such cardboard boxes. Based on the preceding graph showing the daily market demand and supply curves, the price Falero must take as given is $5 Fill in the price and the total, marginal, and average revenue Falero earns when it produces 0, 1, 2, or 3 boxes each day. Price Total Revenue Average Revenue Quantity (Вохes) Marginal Revenue (Dollars per box) (Dollars) (Dollars) (Dollars per box) 5 1 5 5 2 5 10 5 5 3 15 5 The demand curve that Falero faces is identical to which of its other curves? Check all that apply. Marginal revenue curve O Marginal cost curve O Average revenue curve O Sunply cuno

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 6PA: A firm in a competitive market receives 500 in total revenue and has marginal revenue of 10. What is...

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