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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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