Calculate marginal revenue & marginal cost for each quantity

Reference no: EM13199619

Quantity 0 1 2 3 4 5 6 7
Total cost8 9 10 11 13 19 27 37
Total Rev0 8 16 24 32 40 48 56

1.) Calculate marginal revenue & marginal cost for each quantity

2.) Can you tell whether this firm is in a competitive industry and if the industry is in a long-run equilibrium?

Reference no: EM13199619

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