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Dmitrij [34]
2 years ago
6

Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales.

If the firm increases its output to 200 units, the average revenue of the 200th unit will be
Business
1 answer:
kolbaska11 [484]2 years ago
8 0

If the firm increases its output to 200 units, the average revenue of the 200th unit will be $12.

<h3>What is the average revenue?</h3>

Average revenue is total revenue earned from selling a good or service divided by the total number of output sold.

Average revenue = total revenue / output

$1800 / 150 = 12

Here are the options:

a. Less than $12,

b. More than $12,

c. $12,

d. Any of the above may be correct depending on the price elasticity of demand for the product.

To learn more about average revenue, please check: brainly.com/question/14014968

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In order to know how the tax burden is distributed, the incidence is measured through the elasticity of the supply and demand curve, which measures the sensitivity of the quantity, demanded or offered, of products before a price change.

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3 years ago
Narver Corporation uses the weighted-average method in its process costing system. Operating data for the Lubricating Department
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