Answer to Question #64091 in Microeconomics for brittany

Question #64091

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

Expert's answer

TR=Q*P=10*20=200

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. If UWO students suffer a drop in income, what will happen to the market for UWO t-shirts?
2. As quantity increases, which of the following must be true if average total costs are rising? Selec
3. technology $5,000, Postage and handling $1,000, Miscellaneous $3,000, Inventory of cookbooks $2,000,
4. Suppose that the marginal utility you derive from the last slice of cheese pizza purchased is 50 uti
5. x is a normal good let Y be compliment with X and Z by substituents for X. determine change in marke
6. Suppose the (inverse) demand function for a single-price monopoly is P = 280 – 2Q. This means tha
7. Why does the supply curve slope upward?