"Healthy Morning" is a firm that produces breakfast cereal and suppose breakfast cereal is a competitive market. The firm earned $10,000 in total revenue and had a marginal revenue of $10 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold? $10 and 1000 units $10 and 500 units $5 and 1000 units $5 and 500 units
"Healthy Morning" is a firm that produces breakfast cereal and suppose breakfast cereal is a competitive market. The firm earned $10,000 in total revenue and had a marginal revenue of $10 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold? $10 and 1000 units $10 and 500 units $5 and 1000 units $5 and 500 units
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: Firms In Competitive Markets
Section: Chapter Questions
Problem 7PA
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