Total revenue for producing 10 units of output is $5. Total revenue for producing 11 units of output is $9. Given this information, the Average revenue for producing 11 units is $2. Average revenue for producing 11 units is $4 Marginal revenue for producing the 11th unit is $2. Marginal revenue for producing the 11th unit is $4.

Q: A firm in a perfectly competitive market has a short-run total cost function equal to SRTC=4+20q,…

A: In perfect competition there are large number of firms selling identical goods.

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A: Marginal revenue is the additional revenue earned with an  extra unit sold.

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A: Total Revenue= $110000 Money spent on fuel= $20000 Money spent on seed, fertilizers, and pesticides=…

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A: marginal revenue= change in total revenue/change in quantity Marginal cost= change in total…

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A: Answer: Correct option: option (B) Explanation: A firm earns profit if the price is higher than the…

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Q: Find the marginal cost, marginal revenue, and marginal profit functions. C(x) = 7x2;  R(x) = x3 +…

A: C(x) = 7x2 R(x) = x3 + 11x + 16

Q: Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Suppose that the marginal revenue for a product is MR = 900 and the marginal cost is MC = 33,(x+9),…

A: Given  Marginal revenue = 900 Marginal cost = 33√(x+9) X = 5units. Profit(π) = Total revenue- Total…

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A: Competitive firm: This firm has no control over a change of market supply or demand.

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A: Introduction: Short-run is a term that asserts that at least one input is fixed while others are…

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Q: A firm has the following revenue and cost functions. TR = 120 Q – Q2 TC =  Q2 +30 Q + 10…

A:

Q: Suppose that a small family farm sold its output for $100,000 in a given year. The family spent…

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A: Graph a = Demand function, decreases, increases Graph b = Cost function, increase linearly Graph c =…

Q: Suppose the marginal cost of producing x units of a product is given by: MC=4x+50 And the marginal…

A: MC=4x+50 MR = 500 Cost of the production and sale of 10 units = $1000

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A: MR=∆TR/∆Q

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A: Here, given information is, Output produced: 100 units Selling price: $5 each Explicit cost: $200…

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A:

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Q: Find the marginal cost, marginal revenue, and marginal profit functions. C(x) = 4x2;  R(x) = x3 + 5x…

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A:

Q: Suppose that the marginal revenue for a product is MR=775 and the marginal cost is MC39sqrt(x+1),…

A: Given, Marginal revenue =MR = 775 Marginal cost = MC =39x+1 Fixed cost = $906 Output = x = 3 units…

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Q: A perfectly competitive firm has the following total cost function:    Total output Total Cost 0…

A: Answer: A perfectly competitive firm produces that level of output where marginal revenue is equal…

Q: MC ATC MR

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Q: Total Total revenue cost $1,200 1,000 800 600 400 200 100 320 440 Output

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Q: The formula for calculating marginal revenue is...   Group of answer choices   Change in quantity…

A: Total revenue (TR): - it is the total amount that a seller receives selling his goods and services…

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Q: Consider a small business that makes pastries. The business has rented a building to be used as its…

A: Consider a small business that makes pastries. The business has rented a building to be used as…

Q: Suppose a firm can sell one unit of product for $50, two units for $45 each, three units for $40…

A: Total revenue is revenue earned by seller by selling the quantity at particular price , so TR=P x Q…