A farm sells peaches in a perfectly competitivemarket at a price of $1.95 per kilogram. What is thefarm's marginal revenue?It is equal to $0.It is equal to $1.95.It is greater than $1.95.It is less than $1.95 but greater than $0.

Marginal revenue measures the change in firm's total revenue due to sale of additional unit of…

Answered: A farm sells peaches in a perfectly…

A farm sells peaches in a perfectly competitive market at a price of $1.95 per kilogram. What is the farm's marginal revenue?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A farm sells peaches in a perfectly competitive
market at a price of $1.95 per kilogram. What is the
farm's marginal revenue?
It is equal to $0.
It is equal to $1.95.
It is greater than $1.95.
It is less than $1.95 but greater than $0.

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