Explain average revenue and marginal revenue

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Reference no: EM1357308

2. A communication firm is operating in a competitive market. Compute Sam's total revenue, and marginal revenue. Answer the following two questions:

(a) How can you tell whether the firm is operating in a market that is purely competitive?

(b) What relationship exists between average revenue and marginal revenue?

Quantity Average Total Marginal

Price demanded revenue revenue revenue

$30 0 $ $

30 1 $

30 2

30 3

30 4

30 5

30 6

Reference no: EM1357308

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