Information about marginal revenue

Reference no: EM1371247

Consider the following demand schedule. Does it apply to the perfectly competitive firm? Calculate marginal and average revenue.

Price Quantity Price Quantity
$100 1 $70 5
$95 2 $55 6
$88 3 $40 7
$80 4 $22 8

a. Assume the marginal cost of producing the good in table is the constant $10 per unit of output. What quantity of output will the firm produce?

Reference no: EM1371247

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