This table shows price and quantity produced for a single firm in a perfectly competitive market. Price Quantity $5 10 15 20 25 $5 30 Given the information in the table shown, when 25 units are produced, what is the marginal revenue? what is average revenue? what is the total revenue? OMR = 5, AR125, TR = 125 OMR = 5, AR = 5, TR=125 OMR 5, AR-5, TR=5 OMR = 125, AR-5, TR=5 $5 $5 $5

This table shows price and quantity produced for a single firm in a perfectly competitive market. Price Quantity $5 10 15 20 25 $5 30 Given the information in the table shown, when 25 units are produced, what is the marginal revenue? what is average revenue? what is the total revenue? OMR = 5, AR125, TR = 125 OMR = 5, AR = 5, TR=125 OMR 5, AR-5, TR=5 OMR = 125, AR-5, TR=5 $5 $5 $5

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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