Suppose the market price for a price taking firm is known to be $2, the total revenue accruing to it if it sells 100 is _ and the total revenue accruing to it if it sells 200 is O $100, $200 $2, $2 O $200, $400 $200, $400

Suppose the market price for a price taking firm is known to be $2, the total revenue accruing to it if it sells 100 is _ and the total revenue accruing to it if it sells 200 is O $100, $200 $2, $2 O $200, $400 $200, $400

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 9SQP

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Question

Suppose the market price for a price taking firm is known to be $2, the
total revenue accruing to it if it sells 100 is
and the total revenue
accruing to it if it sells 200 is
O $100, $200
O $2, $2
O $200, $400
O $200, $400

Table Cost.EX2: Costs and Outputs for a
Competitive Firm
Total
Total
Output
Fixed
Variable
(Q)
Costs (TFC)
Costs (TVC)
$30.00
$0.00
3.
$30.00
$40.00
6.
$30.00
$90.00
9.
$30.00
$130.00
12
$30.00
$190.00
15
$30.00
$260.00
Refer to Table Cost.EX2. For the 6 units, the average total cost is about
O $20.00
O $16.67
O $5.00
$15.00

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