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Question: At a price of $16 per CD, a firm sells 70 cds. If the slope of the demand curve is - $0.10, marginal revenue for the 71st CD is $

Question: At a price of $16 per CD, a firm sells 70 cds. If the slope of the demand curve is - $0.10, marginal revenue for the 71st CD is $

ENGR.ECONOMIC ANALYSIS
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: At a price of $16 per CD, a firm sells 70 cds. If the slope of the demand curve is -$0.10, marginal revenue for the 71st CD is $ Marginal revenue It is the change in revenue due to change in output. The marginal revenue curve is horizontal for a perfectly competitive firm. It is downward sloping and less than average revenue curve in imperfect competition.
Transcribed Image Text:Question: At a price of $16 per CD, a firm sells 70 cds. If the slope of the demand curve is -$0.10, marginal revenue for the 71st CD is $ Marginal revenue It is the change in revenue due to change in output. The marginal revenue curve is horizontal for a perfectly competitive firm. It is downward sloping and less than average revenue curve in imperfect competition.
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