Price £/unit 4. D Quantity 800 Figure 7 Demand curve for a firm in perfect competition A firm selling fresh sandwiches faces a demand curve D and produces at X as marked on Figure 7. Calculate the measures of revenue shown below for the sandwich seller. Give your answers to the nearest pound. The firm's total revenue =£ The firm's average revenue = £ The firm's marginal revenue = £
Price £/unit 4. D Quantity 800 Figure 7 Demand curve for a firm in perfect competition A firm selling fresh sandwiches faces a demand curve D and produces at X as marked on Figure 7. Calculate the measures of revenue shown below for the sandwich seller. Give your answers to the nearest pound. The firm's total revenue =£ The firm's average revenue = £ The firm's marginal revenue = £
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
100%
12.
![Price
£/unit
4
Quantity
800
Figure 7 Demand curve for a firm in perfect competition
A firm selling fresh sandwiches faces a demand curve D and produces at X as marked on Figure 7.
Calculate the measures of revenue shown below for the sandwich seller. Give your answers to the
nearest pound.
The firm's total revenue = £
The firm's average revenue = £
The firm's marginal revenue = £
DD
F11
F10
F9
F8
F7
20
3
000
F6
F5
F4
*
&
$
7
8
9
4
5
6
P
R
T
Y
J
K
F
G
H
云](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fca94ad79-a9e4-4699-a3bc-c87fb4ae4f5a%2F09d2211d-f584-4fd4-ab58-b75c675b87e9%2Fyn6jd7c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Price
£/unit
4
Quantity
800
Figure 7 Demand curve for a firm in perfect competition
A firm selling fresh sandwiches faces a demand curve D and produces at X as marked on Figure 7.
Calculate the measures of revenue shown below for the sandwich seller. Give your answers to the
nearest pound.
The firm's total revenue = £
The firm's average revenue = £
The firm's marginal revenue = £
DD
F11
F10
F9
F8
F7
20
3
000
F6
F5
F4
*
&
$
7
8
9
4
5
6
P
R
T
Y
J
K
F
G
H
云
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