What is the short-run average cost

Reference no: EM13243784

A firm is a perfectly competitive industry with atotal revenue of Php 2 million a year when producing 200,000 unitsof output per year;
a) Find the firm's average revenue (AR);
b) Find the firm's marginal revenue (MR);
c) Assuming that the firm is maximizing profits, what is thefirm's marginal cost (MC)?
d) If the firm is at long-run equilibrium, what is theshort-run average cost?

Reference no: EM13243784

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