if a perfectly competitive firm sells 300 units of output at a market price of $1 per unit, its marginal revenue is:

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04-11-2022
Business

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if a perfectly competitive firm sells 300 units of output at a market price of $1 per unit, its marginal revenue is:

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rafikiedu05 rafikiedu05 · Answer 1 · 2022-11-09T05:36:51-05:00

If a perfectly competitive firm sells 300 units of output at a market price of $1 per unit, its marginal revenue is $1.

Marginal sales (or marginal benefit) is a valuable concept in microeconomics that describes the extra overall sales generated via increasing product income by 1 unit. To derive the price of marginal revenue, it is required to examine the difference among the combination benefits a company received from the quantity of a terrific and service produced last length and the modern-day length with one greater unit growth in the rate of production.

Marginal revenue is a fundamental device for financial decision-making inside a firm's place, collectively with marginal value to be taken into consideration.

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