QuestionJune 1, 2025

Question 14 (6 points) If a perfectly competitive firm increases production from 10 units to 11 units, and the market price is 20 per unit, total revenue for 10 units is: 10 20 200 210

Question 14 (6 points) If a perfectly competitive firm increases production from 10 units to 11 units, and the market price is 20 per unit, total revenue for 10 units is: 10 20 200 210
Question 14 (6 points)
If a perfectly competitive firm increases production from 10 units to 11 units, and
the market price is 20 per unit, total revenue for 10 units is:
 10
 20
 200
 210

Solution
4.0(290 votes)

Answer

\ 200 Explanation 1. Calculate Total Revenue for 10 Units Total revenue is calculated by multiplying the quantity of units sold by the market price per unit. **Total Revenue = Price \times Quantity**. For 10 units, Total Revenue = 20 \times 10.

Explanation

1. Calculate Total Revenue for 10 Units<br /> Total revenue is calculated by multiplying the quantity of units sold by the market price per unit. **Total Revenue = Price \times Quantity**.<br /> For 10 units, Total Revenue = $20 \times 10$.
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