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alexandr402 [8]
3 years ago
11

If a perfectly competitive firm decreases production from 11 units to 10 units and the market price is $20 per unit, total reven

ue for 10 units is: Select one: a. $20. b. $210. c. $200. d. $10.
Business
1 answer:
marishachu [46]3 years ago
6 0

Answer: C. $200

Explanation:

Total revenue = price × quantity

= $20 × 10 = $200

A perfectly competitive firm is a firm that is a price taker; it doesn't set the price for its goods.

If the firm reduces the quantity produced, total revenue falls too.

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