Answer to Question #106517 in Microeconomics for MHD Mustafa

Question #106517
What kind of competition is this firm faced with, perfect or imperfect?

Output Price Total revenue Average revenue Marginal revenue
0 20 0 20 20
1 20 20 20 20
2 20 40 20 20
3 20 60 20 20
4 20 80 20 20
5 20 100 20 20
6 20 120 20 20
7 20 140 20 20
8 20 160 20 20
1
Expert's answer
2020-03-26T09:30:51-0400

This company is faced with perfect competition.

For perfect competition, with no market control, marginal revenue is equal to average revenue, and average revenue does not change. 


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