The table below shows the total revenue schedule of a firm. Use the information to answer the question that follows
| Output (units) | 50 | 60 | 70 | 80 | 90 |
| Total revenue (TR) $ | 85 | 102 | 119 | 136 | 153 |
What is the unit price of the firm's output
a
$10.00
b
$2.70
c
$2.00
d
$1.70
Explanation
Correct Option
dNo explanation available
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NOTABENE2021
4 years ago
The unit price is the Average revenue of a perfect market. Therefore: AR= TR/Q
Dividing the TR by each Quantity equals 1.7 I.e 85/50 , 102/60...............
